| Calculation for Basic and Diluted Earnings per Common Share |
The following table presents the calculation of basic and diluted
earnings per common share for the periods indicated:
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Three Months
Ended |
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Nine Months
Ended |
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September 30, |
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September 30, |
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| (Amounts in thousands, except share and per
share data) |
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2014 |
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2013 |
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2014 |
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2013 |
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Net income
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$ |
7,043 |
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$ |
5,412 |
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$ |
19,775 |
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$ |
17,988 |
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Dividends on preferred stock
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228 |
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261 |
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683 |
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772 |
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Net income available to common shareholders
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$ |
6,815 |
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$ |
5,151 |
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$ |
19,092 |
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$ |
17,216 |
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Weighted average number of common shares outstanding, basic
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18,402,764 |
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20,008,861 |
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18,407,173 |
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20,013,095 |
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Dilutive effect of potential common shares from:
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Stock options
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17,375 |
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19,877 |
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18,027 |
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17,640 |
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Restricted stock
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568 |
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3,588 |
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506 |
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6,613 |
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Convertible preferred stock
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1,045,419 |
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1,091,462 |
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1,046,430 |
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1,158,715 |
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Weighted average number of common shares outstanding, diluted
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19,466,126 |
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21,123,788 |
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19,472,136 |
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21,196,063 |
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Basic earnings per common share
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$ |
0.37 |
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$ |
0.26 |
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$ |
1.04 |
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$ |
0.86 |
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Diluted earnings per common share
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0.36 |
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0.26 |
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1.02 |
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0.85 |
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Antidilutive potential common shares:
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Stock options
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255,244 |
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310,558 |
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255,244 |
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328,258 |
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Restricted stock
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— |
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76 |
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— |
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26 |
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Total potential antidilutive shares
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255,244 |
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310,634 |
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255,244 |
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328,284 |
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