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Earnings Per Share
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

Note 3. Earnings Per Share

We compute earnings per share in accordance with FASB ASC Topic 260, "Earnings Per Share." Diluted earnings per share includes potential common shares assumed issued under the "treasury stock method," which reflects the potential dilution that would occur if any outstanding options are exercised. Diluted earnings per share also includes the "if converted" method for participating securities if the effect is dilutive.

 

                 
     Three Months Ended
March 31,		  
     2012      2011  
     (in thousands, except per share amounts)  

Basic EPS:

                  

Net income

    $ 9,561       $ 6,630   
    

 

 

     

 

 

  

Basic weighted average common shares

      18,140,749         18,232,600   

Basic earnings per common share

    $ 0.53       $ 0.36   
     

Diluted EPS:

                  

Net income

    $ 9,561       $ 6,630   
    

 

 

     

 

 

  

Diluted weighted average common shares:

                  

Weighted average common shares

      18,140,749         18,232,600   

Stock options

      395,239         468,679   

Restricted stock

      6,342         7,887   
    

 

 

     

 

 

  

Diluted weighted average common shares

      18,542,330         18,709,166   
    

 

 

     

 

 

  

Diluted earnings per common share

    $ 0.52       $ 0.35