Earnings per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings per Share

Note 4 – Earnings per Share

Basic earnings per common share are computed by dividing net income by the weighted average number of shares of stock outstanding during the period. The Company’s diluted earnings per share give effect to all potential common shares outstanding during a period that do not have an anti-dilutive impact to the calculation. In computing the diluted earnings per share, the treasury stock method is used in determining the number of shares assumed to be purchased from the conversion of Common Stock equivalents.

The following summarizes the common shares included in the basic and diluted shares, as disclosed on the face of the consolidated condensed statements of income:

	Three MonthsEnded September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Weighted average number of shares for calculation of basic EPS – Common Stock		35,522,407		34,447,098		35,317,359		33,261,115
Stock option under the 2006, 2011 and 2013 Equity Incentive Plans		748,873		439,364		625,452		323,111
Weighted average number of shares for calculation of diluted EPS		36,271,280		34,886,462		35,942,811		33,584,226

The accompanying table represents Common Stock issuable upon the exercise of certain stock options that have been excluded from the diluted earnings calculation because the effect of their inclusion would be anti-dilutive.

	Three MonthsEnded September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Stock options outstanding under the 2006, 2011 and 2013 Equity Incentive Plans		—		500,000		—		508,000
		—		500,000		—		508,000