Earnings Per Common Share

6 Months Ended

Jun. 30, 2015

Following is a summary of the information used in the computation of earnings per common share (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Net earnings available to common shareholders	$	4,927	$	3,946	$	6,245	$	10,624
Dividends on Series C preferred stock	92		90		185		190
Adjusted net earnings available to common shareholders	$	5,019	$	4,036	$	6,430	$	10,814
Weighted average number of common shares outstanding used in computation of basic earnings per common share	11,324		11,277		11,321		11,268
Effect of dilutive securities:
Stock options	17		89		23		81
Convertible preferred stock and warrants	509		546		510		543
Weighted average number of common shares outstanding plus effect of dilutive securities – used in computation of diluted earnings per share	11,850		11,912		11,854		11,892

Options to acquire 129,822 and 7,355 shares of common stock were not included in computing diluted earnings per share for the quarters and six months ended June 30, 2015 and 2014, respectively, because the effects of these shares were anti-dilutive as a result of the exercise price of such options.