Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v2.4.0.8
EARNINGS PER SHARE
3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 6 – EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

 

     March 31,
2014
     March 31,
2013
 

Basic:

     

Numerator:

     

Net income

   $ 3,535       $ 2,787   

Less: Distributed loss/distributed and undistributed income (unvested restricted stock)

     38         24   
  

 

 

    

 

 

 

Net income attributable to common shareholders

   $ 3,497       $ 2,763   
  

 

 

    

 

 

 

Denominator:

     

Denominator for basic earnings per share-weighted-average shares

     14,496         14,455   
  

 

 

    

 

 

 

Basic earnings per share - common shareholders

   $ 0.24       $ 0.19   
  

 

 

    

 

 

 

Diluted:

     

Numerator:

     

Net Income

   $ 3,535       $ 2,787   

Less: Distributed loss/distributed and undistributed income (unvested restricted stock)

     38         24   
  

 

 

    

 

 

 

Net income attributable to common shareholders

   $ 3,497       $ 2,763   
  

 

 

    

 

 

 

Denominator:

     

Denominator for basic earnings per share-weighted-average shares

     14,496         14,455   

Effect of dilutive securities:

     

Employee stock options

     —           6   
  

 

 

    

 

 

 

Denominator for dilutive earnings per share-weighted-average shares

     14,496         14,461   
  

 

 

    

 

 

 

Diluted earnings per share - common shareholders

   $ 0.24       $ 0.19