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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 16 – EARNINGS PER SHARE

The factors used in the earnings per share computation follow:

 

     2013      2012      2011  

Basic

         

Net income attributable to common shares

    $ 17,033,000       $ 11,505,000       $ 36,142,000   
  

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding

      8,710,677         8,625,198         8,602,845   
  

 

 

     

 

 

     

 

 

  

Basic earnings per common share

    $ 1.96       $ 1.33       $ 4.20   
  

 

 

     

 

 

     

 

 

  

Diluted

         

Net income attributable to common shares

    $ 17,033,000       $ 11,505,000       $ 36,142,000   
  

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding for basic earnings per common share

      8,710,677         8,625,198         8,602,845   

Add: Dilutive effects of share-based awards

      14,031         224,429         275,335   
  

 

 

     

 

 

     

 

 

  

Average shares and dilutive potential common shares

      8,724,708         8,849,627         8,878,180   
  

 

 

     

 

 

     

 

 

  

Diluted earnings per common share

    $ 1.95       $ 1.30       $ 4.07   
  

 

 

     

 

 

     

 

 

  

 

Stock options for approximately 55,000, 132,000 and 167, 000 shares of common stock were antidilutive and were not included in determining dilutive earnings per share in 2013, 2012, and 2011, respectively.