Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

Note 13

EARNINGS PER SHARE

 

The following table sets forth the computation of basic and diluted earnings per share:

 

(Dollars and Per Share Data in Thousands)   2014     2013     2012  
Numerator:                        
Net Income   $ 9,260     $ 6,045     $ 108  
                         
Denominator:                        
Denominator for Basic Earnings Per Share Weighted-Average Shares     17,425       17,325       17,205  
Effects of Dilutive Securities Stock Compensation Plans     63       74       15  
                         
Denominator for Diluted Earnings Per Share Adjusted Weighted-Average Shares and Assumed Conversions     17,488       17,399       17,220  
                         
Basic Earnings Per Share   $ 0.53     $ 0.35     $ 0.01  
                         
Diluted Earnings Per Share   $ 0.53     $ 0.35     $ 0.01  

 

Stock options for 37,246 shares of common stock related to an award earned in 2004 were not considered in computing diluted earnings per common share for 2014, 2013, and 2012 because they were anti-dilutive. Stock options for 23,138 shares of common stock, which related to an award earned in 2003 and expired unexercised in 2014, were not considered in computing diluted earnings per common share for 2013 and 2012 because they were anti-dilutive.