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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Computation of Earnings per Share

Earnings per share have been computed based on the following:

 

                                 
    Three months ended
September 30,
    Nine months ended
September 30,
 
(in thousands)   2012     2011     2012     2011  

Net income

  $ 5,020     $ 6,470     $ 14,272     $ 12,401  

Average number of common shares outstanding

    15,993       15,979       15,989       15,920  

Effect of dilutive stock options

    59       27       61       75  
   

 

 

   

 

 

   

 

 

   

 

 

 

Average number of common shares outstanding used to calculate diluted earnings per share

    16,052       16,006       16,050       15,995  
   

 

 

   

 

 

   

 

 

   

 

 

 

Options excluded from diluted earnings per share because the effect of these options was antidilutive

    992       788       967       792