Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share

The reconciliation between basic and diluted earnings per share is presented as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Basic EPS	(Dollars in thousands, except per share data)
Net income	$	2,023	$	1,823	$	3,629	$	2,936
Less:
Preferred stock dividend and accretion	—		117		35		374
Income allocated to participating securities	8		16		16		23
Net income allocated to common shareholders	$	2,015	$	1,690	$	3,578	$	2,539
Average common shares outstanding	9,664,972		9,303,702		9,666,626		8,755,457
Less: participating shares included in average common shares outstanding	38,552		90,532		45,820		103,708
Average common shares outstanding used in basic EPS	9,626,420		9,213,170		9,620,806		8,651,749
Basic net income per common share	$	0.21	$	0.18	$	0.37	$	0.29
Diluted EPS:
Income used in diluted earnings per share calculation	$	2,015	$	1,690	$	3,578	$	2,539
Average common shares outstanding	9,626,420		9,213,170		9,620,806		8,651,749
Add: Common Stock equivalents:
Stock Options	17,472		10,508		17,008		7,374
Average common stock shares outstanding	9,643,892		9,223,678		9,637,814		8,659,123
Diluted earnings per common share	$	0.21	$	0.18	$	0.37	$	0.29