| Computation of basic and diluted earnings per common share |
Computations of basic and diluted earnings per common share of the Company were as follows (in thousands, except share data):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2014 |
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2013 |
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2014 |
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2013 |
Net income attributable to common shares |
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$ |
5,221 |
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$ |
5,055 |
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$ |
9,666 |
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$ |
11,028 |
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Shares: |
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Weighted average number of common shares outstanding—basic |
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20,342,413 |
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20,140,105 |
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20,277,665 |
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20,793,529 |
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Assumed conversion of Series A Preferred Stock (1)
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— |
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— |
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— |
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— |
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Net effect of dilutive stock options and restricted stock awards based on the treasury stock method (2)
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55,500 |
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— |
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51,585 |
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— |
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Weighted average number of common shares outstanding—diluted |
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20,397,913 |
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20,140,105 |
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20,329,250 |
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20,793,529 |
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Earnings per common share: |
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Basic |
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$ |
0.26 |
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$ |
0.25 |
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$ |
0.48 |
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$ |
0.53 |
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Diluted |
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$ |
0.26 |
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$ |
0.25 |
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$ |
0.48 |
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$ |
0.53 |
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____________________
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(1) |
Excludes weighted average common shares of 0 for the three months ended June 30, 2014 and 2013 and 0 and 1,209,318 for the six months ended June 30, 2014 and 2013, respectively, that were issuable upon the conversion of Series A preferred stock as the effect of their inclusion in the computation would have been antidilutive.
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(2) |
Excludes weighted average common shares of 0 and 339,258 for the three months ended June 30, 2014 and 2013, respectively, and 0 and 194,122 for the six months ended June 30, 2014 and 2013, respectively, for certain share awards as the effect of their inclusion would have been antidilutive.
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