Earnings Per Common Share (Tables)

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Basic EPS	(Dollars in thousands, except per share data)
Net income	$	2,086	$	1,519	$	5,715	$	4,455
Less:
Preferred stock dividend and accretion	—		109		16		483
Income allocated to participating securities	8		13		24		40
Net income allocated to common shareholders	$	2,078	$	1,397	$	5,675	$	3,932
Average common shares outstanding	9,665,088		9,303,702		9,666,107		8,940,213
Less: participating shares included in average common shares outstanding	38,552		90,532		43,371		99,268
Average common shares outstanding used in basic EPS	9,626,536		9,213,170		9,622,736		8,840,945
Basic net income per common share	$	0.22	$	0.15	$	0.59	$	0.44
Diluted EPS:
Income used in diluted earnings per share calculation	$	2,078	$	1,397	$	5,675	$	3,932
Average common shares outstanding	9,626,536		9,213,170		9,622,736		8,840,945
Add: Common Stock equivalents:
Stock Options	32,718		12,292		14,619		9,184
Average common stock shares outstanding	9,659,254		9,225,462		9,637,355		8,850,129
Diluted earnings per common share	$	0.22	$	0.15	$	0.59	$	0.44