EARNINGS PER SHARE DATA

3 Months Ended

Mar. 31, 2012

EARNINGS PER SHARE DATA [Abstract]

EARNINGS PER SHARE DATA

NOTE 7. EARNINGS PER SHARE DATA

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated.

	Three Months Ended
	March 31
	2012	2011
Basic:
Weighted average shares outstanding	14,328,348	14,279,027
Net income	$ 11,646,000	$   6,343,000
Convertible preferred stock dividend	(23,000)	(23,000)
Net income attributable to common shareholders	$ 11,623,000	$   6,320,000
Per share amount	$            0.81	$            0.44
Diluted:
Weighted average shares outstanding	14,328,348	14,279,027
Assumed conversion of convertible preferred stock	840,000	840,000
Total	15,168,348	15,119,027
Net income attributable to common shareholders	$ 11,623,000	$   6,320,000
Convertible preferred stock dividend	23,000	23,000
Net income for diluted earnings per share	$ 11,646,000	$   6,343,000
Per share amount	$            0.77	$            0.42