Better programing style?
===

Which code is better?
Using return() in every condition:

    void someProc(String str) {
        if (str.length < 1) {
            log("bad length");
            return();
            }
        if (str.charAt(3) == "N") {
            log("N at 3");
            return();
            }
        parse(str);
    }

or subconditions without return():

    void someProc(String str) {
        if (str.length < 1) log("bad length");
        else if (str.charAt(3) == "N") log("N at 3");
        else parse(str);
    }

What is better for perfornance?