EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2012

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE T – EARNINGS PER SHARE

The calculation of basic and diluted earnings per share is as follows (Amounts in thousands except share data):

	Years Ended December 31,
	2012		2011		2010
Numerator:
Net Income  – Basic	$	21,962	$	31,549	$	15,302
Net Income - Diluted	$	21,962	$	31,549	$	15,302
Denominator:
Weighted Average  Shares of Common Stock Outstanding:
Basic		7,195,606		7,131,820		7,158,439
Plus:
Effect of dilutive restrictive stock		17,682		44,827		72,739
Diluted		7,213,288		7,176,647		7,231,178
Basic and Diluted Earnings Per Common Share:
Net Income -Basic	$	3.05	$	4.42	$	2.14
Net Income -Diluted	$	3.04	$	4.40	$	2.12