XML 79 R14.htm IDEA: XBRL DOCUMENT v2.4.1.9
Earnings Per Common Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
6.
Earnings Per Common Share
 
The following table sets forth the computation of basic and diluted earnings per common share:
 
 
Three months ended
March 31,
 
 
 
2015
 
2014
 
 
 
(In Thousands, except per
share data)
 
Numerator for basic and diluted earnings per common share – Net income
 
$
6,601
 
$
5,179
 
Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per common share – weighted average common shares
 
 
9,234
 
 
9,681
 
Effect of warrants
 
 
291
 
 
341
 
Effect of employee stock options
 
 
86
 
 
86
 
 
 
 
 
 
 
 
 
Denominator for diluted earnings per common share
 
 
9,611
 
 
10,108
 
Basic earnings per common share
 
$
0.71
 
$
0.53
 
 
 
 
 
 
 
 
 
Diluted earnings per common share
 
$
0.69
 
$
0.51
 
  
There were 16,750 shares under option granted to employees excluded from the diluted earnings per common share calculation as they were anti-dilutive for the three months ended March 31, 2015. Options to acquire 92,250 shares were excluded from the diluted earnings per common share calculations as they were anti-dilutive for the three months ended March 31, 2014.