Earnings Per Common Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

(12)  EARNINGS PER COMMON SHARE

Basic earnings per share (“EPS”) is computed based on the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the treasury stock method and reflects the potential dilution that could occur from the exercise of stock options, and warrants and the amortized portion of unvested stock awards. Stock options and unvested stock awards for which the exercise or the grant price exceeds the average market price over the period have an anti-dilutive effect on EPS and, accordingly, are excluded from the calculation. Treasury shares are not deemed outstanding for calculations. There were 83,978 anti-dilutive stock options outstanding, and no anti-dilutive stock awards at December 31, 2013. There were 128,568 anti-dilutive stock options outstanding, and no anti-dilutive stock awards at December 31, 2012. The following table sets forth the computation of basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands,

Year Ended December 31

except per share data)

2013

2012

 

 

Income

 

Shares

 

Amount

 

Income

 

Shares

 

Amount

Basic EPS

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to common stockholders

$
3,771 

 
2,742 

$
1.38 

$
4,907 

 
2,711 

$
1.81 

Effect of potential dilutive common stock equivalents -

 

 

 

 

 

 

 

 

 

 

 

 

stock options, restricted shares and warrants

 

 -

 
39 

 
(0.02)

 

 -

 
29 

 
(0.02)

Diluted EPS

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders after assumed

 

 

 

 

 

 

 

 

 

 

 

 

exercises

$
3,771 

 
2,781 

$
1.36 

$
4,907 

 
2,740 

$
1.79