XML 49 R24.htm IDEA: XBRL DOCUMENT v3.3.0.814
EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Analysis of Basic and Diluted Earnings Per Share
The following is an analysis of basic and diluted EPS, reflecting the application of the two-class method, as described below: 
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
 
2015
 
2014
 
2015
 
2014
Net income
 
$
6,456

 
$
6,451

 
$
19,260

 
$
18,482

Dividends and undistributed earnings allocated to participating securities(1)
 
(21
)
 
(20
)
 
(61
)
 
(57
)
Net income available to common shareholders
 
$
6,435

 
$
6,431

 
$
19,199

 
$
18,425

Weighted-average common shares outstanding for basic EPS
 
7,453,222

 
7,421,592

 
7,443,543

 
7,459,972

Dilutive effect of stock-based awards(2)
 
23,817

 
18,356

 
20,941

 
19,355

Weighted-average common and potential common shares for diluted EPS
 
7,477,039

 
7,439,948

 
7,464,484

 
7,479,327

Earnings per common share:
 
 

 
 

 
 
 
 
Basic EPS
 
$
0.86

 
$
0.87

 
$
2.58

 
$
2.47

Diluted EPS
 
$
0.86

 
$
0.86

 
$
2.57

 
$
2.46

Awards excluded from the calculation of diluted EPS(3):
 
 
 
 
 
 
 
 
Stock options
 
13,750

 
30,750

 
16,250

 
14,750

(1) Represents dividends paid and undistributed earnings allocated to nonvested stock-based awards that contain non-forfeitable rights to dividends.
(2) Represents the effect of the assumed exercise of stock options, vesting of restricted shares, vesting of restricted stock units, and vesting of LTIP awards that have met the performance criteria, as applicable, utilizing the treasury stock method.
(3) Represents stock-based awards not included in the computation of potential common shares for purposes of calculating diluted EPS as the exercise prices were greater than the average market price of the Company's common stock.