Annual report pursuant to Section 13 and 15(d)

EARNINGS PER COMMON SHARE (Tables)

v2.4.1.9
EARNINGS PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2014
EARNINGS PER COMMON SHARE [Abstract]  
Reconciliation of Numerators and Denominators of Basic and Diluted Earnings per Common Share
A reconciliation of the numerators and denominators of basic and diluted earnings per common share are as follows (dollars in thousands, except per share data):

   
2014
    
2013
    
2012
  
Net income
  
$
10,473
    
$
9,549
    
$
35,490
  
Effect of induced exchange of preferred stock
    
---
      
(17,575
)
    
---
  
Net income available to common shares
  
$
10,473
    
$
(8,026
)
  
$
35,490
  
                         
Weighted average shares outstanding, including participating stock awards - Basic
    
33,803,030
      
27,161,888
      
27,086,792
  
                         
Dilutive potential common shares:
                        
Stock options
    
---
      
---
      
---
  
Conversion of preferred stock
    
---
      
---
      
---
  
Stock warrants
    
---
      
---
      
---
  
Weighted average shares outstanding - Diluted
    
33,803,030
      
27,161,888
      
27,086,792
  
                         
Basic earnings per common share
  
$
0.31
    
$
(0.29
)
  
$
1.31
  
Diluted earnings per common share
  
$
0.31
    
$
(0.29
)
  
$
1.31