Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2016

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
	2016		2015
	(Unaudited)		(Unaudited)
Basic earnings per share
Net income	$	5,381	$	5,358
Less: Preferred stock dividends		42		31
Net income available to common shareholders	$	5,339	$	5,327
Weighted average common shares outstanding		11,949,416		9,216,011
Basic earnings per share	$	0.45	$	0.58
Diluted earnings per share
Net income available to common shareholders	$	5,339	$	5,327
Weighted average common shares outstanding		11,949,416		9,216,011
Effect of dilutive securities:
Warrants		—		321,652
Restricted stock		21,033		30,510
Stock options		38,035		41,333
Weighted average shares outstanding		12,008,484		9,609,506
Diluted earnings per share	$	0.44	$	0.55

There were zero dilutive shares for the three months ended March 31, 2016 and 62,445 shares for the three months ended March 31, 2015 which were not included in the computation of diluted earnings per share because they were non-dilutive.

Horizon has share-based employee compensation plans, which are described in the notes to the financial statements included in the December 31, 2015 Annual Report on Form 10-K.

Reclassifications

Reclassifications

Certain reclassifications have been made to the 2015 condensed consolidated financial statements to be comparable to 2016. These reclassifications had no effect on net income.