Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER COMMON SHARE (Tables)

v2.4.0.8
EARNINGS PER COMMON SHARE (Tables)
6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
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):
 
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
 
2014
 
2013
 
2014
 
2013
Net income attributable to common shares
 
$
5,221

 
$
5,055

 
$
9,666

 
$
11,028

Shares:
 
 
 
 
 
 
 
 
Weighted average number of common shares outstanding—basic
 
20,342,413

 
20,140,105

 
20,277,665

 
20,793,529

Assumed conversion of Series A Preferred Stock (1)
 

 

 

 

Net effect of dilutive stock options and restricted stock awards based on the treasury stock method (2)
 
55,500

 

 
51,585

 

Weighted average number of common shares outstanding—diluted
 
20,397,913

 
20,140,105

 
20,329,250

 
20,793,529

 
 
 
 
 
 
 
 
 
Earnings per common share:
 
 
 
 
 
 
 
 
Basic
 
$
0.26

 
$
0.25

 
$
0.48

 
$
0.53

Diluted
 
$
0.26

 
$
0.25

 
$
0.48

 
$
0.53

____________________
(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.
(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.