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EARNINGS PER SHARE (Tables)
3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Computation of Earnings Per Share

 

For the Three Months Ended March 31,

 

 

2015

 

 

2014

 

 

(Dollars in thousands, except per share data)

 

Net income per consolidated statements of income

$

3,686

 

 

$

2,094

 

Net income allocated to participating securities

 

(21

)

 

 

(9

)

Net income allocated to common stock

$

3,665

 

 

$

2,085

 

 

 

 

 

 

 

Basic earnings per common share computation:

 

 

 

 

 

Distributed earnings allocated to common stock

$

493

 

 

$

 

Undistributed earnings allocated to common stock

 

3,172

 

 

 

2,085

 

Net income allocated to common stock

$

3,665

 

 

$

2,085

 

Weighted average common shares outstanding, including shares considered participating securities

 

49,291

 

 

 

50,407

 

Less: Average participating securities

 

(269

)

 

 

(211

)

Weighted average shares

 

49,022

 

 

 

50,196

 

Basic earnings per common share

$

0.07

 

 

$

0.04

 

 

 

 

 

 

 

Diluted earnings per common share computation:

 

 

 

 

 

Net income allocated to common stock

$

3,665

 

 

$

2,085

 

Weighted average common shares outstanding for basic earnings per common share

 

49,022

 

 

 

50,196

 

Add: Dilutive effects of assumed exercises of stock options

 

273

 

 

 

254

 

Weighted average shares and dilutive potential common shares

 

49,295

 

 

 

50,450

 

Diluted earnings per common share

$

0.07

 

 

$

0.04