Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The computation of basic and diluted earnings per share is shown below (in thousands except share and per share data):

	Three months ended						Nine months ended
	September 30,						September 30,
	2014			2013			2014			2013
Basic earnings per common share computation:
Net income per consolidated statements of income	$	5,548		$	4,703		$	16,331		$	11,951
Net earnings allocated to participating securities		(23	)		(21	)		(70	)		(56	)
Net earnings allocated to common stock	$	5,525		$	4,682		$	16,261		$	11,895
Distributed earnings allocated to common stock	$	2,359		$	2,054		$	7,109		$	6,161
Undistributed earnings allocated to common stock		3,166			2,628			9,152			5,734
Net earnings allocated to common stock	$	5,525		$	4,682		$	16,261		$	11,895
Weighted average common shares outstanding, including shares considered participating securities		14,368			12,513			14,421			12,505
Less: Average participating securities		(53	)		(51	)		(55	)		(52	)
Weighted average shares		14,315			12,462			14,366			12,453
Basic earnings per common share	$	0.39		$	0.38		$	1.13		$	0.96
Diluted earnings per common share computation:
Net earnings allocated to common stock	$	5,525		$	4,682		$	16,261		$	11,895
Weighted average common shares outstanding for basic earnings per common share		14,315			12,462			14,366			12,453
Add: Dilutive effects of assumed exercises of stock options		1			2			1			1
Weighted average shares and dilutive potential common shares		14,316			12,464			14,367			12,454
Diluted earnings per common share	$	0.39		$	0.38		$	1.13		$	0.96