EARNINGS PER SHARE DATA

6 Months Ended

Jun. 30, 2013

EARNINGS PER SHARE DATA [Abstract]

EARNINGS PER SHARE DATA

NOTE 10 - EARNINGS PER SHARE DATA

Basic earnings per share is computed based on weighted average shares outstanding and excludes dilutive securities. Diluted earnings per share is computed including the impacts of all potentially dilutive securities.

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Basic:
Weighted average shares outstanding		14,451		14,392		14,424		14,360
Net income	$	13,749	$	12,177	$	26,981	$	23,823
Convertible preferred stock dividend		22		22		45		45
Net income attributable to common shareholders	$	13,727	$	12,155	$	26,936	$	23,778
Per share amount	$	0.95	$	0.84	$	1.87	$	1.66
Diluted:
Weighted average shares outstanding		14,451		14,392		14,424		14,360
Assumed conversion of convertible preferred stock		840		840		840		840
Total dilutive shares		15,291		15,232		15,264		15,200
Net income attributable to  common shareholders	$	13,727	$	12,155	$	26,936	$	23,778
Convertible preferred stock dividend		22		22		45		45
Net income for diluted earnings per share	$	13,749	$	12,177	$	26,981	$	23,823
Per share amount	$	0.90	$	0.80	$	1.77	$	1.57