Accounting Policies (Policies)

6 Months Ended

Jun. 30, 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 June 30				Six months ended June 30
	2014		2013		2014		2013
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
Basic earnings per share
Net income	$	4,778	$	5,665	$	8,195	$	10,976
Less: Preferred stock dividends and accretion of discount		32		96		63		242
Net income available to common shareholders	$	4,746	$	5,569	$	8,132	$	10,734
Weighted average common shares outstanding		9,182,986		8,617,466		8,908,492		8,617,466
Basic earnings per share	$	0.52	$	0.65	$	0.91	$	1.25
Diluted earnings per share
Net income available to common shareholders	$	4,746	$	5,569	$	8,132	$	10,734
Weighted average common shares outstanding		9,182,986		8,617,466		8,908,492		8,617,466
Effect of dilutive securities:
Warrants		303,399		287,815		308,060		290,550
Restricted stock		38,003		35,263		38,717		35,411
Stock options		36,551		33,559		38,154		33,981
Weighted average shares outstanding		9,560,939		8,974,103		9,293,423		8,977,408
Diluted earnings per share	$	0.50	$	0.62	$	0.88	$	1.20

At June 30, 2014 and 2013, there were 42,683 and 46,760 shares, respectively, 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.