Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Earnings Per Share

Basic earnings per share is computed by dividing net income available to common shareholders (net income less dividend requirements for preferred stock and accretion of preferred stock discount) by the weighted-average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The following table shows computation of basic and diluted earnings per share.

	Three months ended March 31
	2014		2013
	(Unaudited)		(Unaudited)
Basic earnings per share
Net income	$	3,417	$	5,311
Less: Preferred stock dividends and accretion of discount		31		146
Net income available to common shareholders	$	3,386	$	5,165
Weighted average common shares outstanding		8,630,966		8,617,466
Basic earnings per share	$	0.39	$	0.60
Diluted earnings per share
Net income available to common shareholders	$	3,386	$	5,165
Weighted average common shares outstanding		8,630,966		8,617,466
Effect of dilutive securities:
Warrants		311,278		293,237
Restricted stock		39,519		35,557
Stock options		40,023		34,395
Weighted average shares outstanding		9,021,786		8,980,655
Diluted earnings per share	$	0.38	$	0.58

At March 31, 2014 and 2013, there were no shares which were not included in the computation of diluted earnings per share because they were non-dilutive.

Reclassifications

Reclassifications

Certain reclassifications have been made to the 2013 condensed consolidated financial statements to be comparable to 2014. These reclassifications had no effect on net income.