Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER COMMON SHARE

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EARNINGS PER COMMON SHARE
6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
NOTE 3 - EARNINGS PER COMMON SHARE
 
Basic earnings per common share are computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options and warrants. All reported amounts in the Form 10-Q are adjusted to give effect to the 3-for-1 stock split disclosed above.
  
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
 
2014
 
2013
 
2014
 
2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In Thousands, Except Shares and Per Share Data)
 
Earnings per common share
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding
 
 
23,627,898
 
 
20,834,700
 
 
22,917,881
 
 
19,854,387
 
Net income available to common stockholders
 
$
11,469
 
$
9,586
 
$
23,127
 
$
18,737
 
Basic earnings per common share
 
$
0.49
 
$
0.46
 
$
1.01
 
$
0.94
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding
 
 
23,627,898
 
 
20,834,700
 
 
22,917,881
 
 
19,854,387
 
Dilutive effects of assumed conversions and exercise of stock options and warrants
 
 
1,195,693
 
 
820,626
 
 
991,827
 
 
1,589,208
 
Weighted average common and dilutive potential common shares outstanding
 
 
24,823,591
 
 
21,655,326
 
 
23,909,708
 
 
21,443,595
 
Net income available to common stockholders
 
$
11,469
 
$
9,586
 
$
23,127
 
$
18,737
 
Effect of interest expense on convertible debt, net of tax and discretionary expenditures related to conversion
 
 
-
 
 
-
 
 
-
 
 
115
 
Net income available to common stockholders, adjusted for effect of debt conversion
 
$
11,469
 
$
9,586
 
$
23,127
 
$
18,852
 
Diluted earnings per common share
 
$
0.46
 
$
0.44
 
$
0.97
 
$
0.88