Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note 4 – Earnings Per Share

Basic earnings per share (EPS) are computed on the basis of the weighted average number of shares outstanding during the period presented. Diluted EPS assumes the conversion of both the Convertible Preferred Stock $7.00 Series and the Convertible Preferred Stock $8.00 Series.

	(In Thousands Except per Share Amounts)
	Three Months Ended September 30,
	2012					2011
Basic:	Income			Shares		Income			Shares
Net Income	$	6,138			15,741	$	5,143			15,622
Preferred Dividend		(52	)				(52	)
Earnings Applicable to Common Stock	$	6,086			15,741	$	5,091			15,622
Basic EPS	$	0.39				$	0.33
Diluted:
Earnings Applicable to Common Stock	$	6,086			15,741	$	5,091			15,622
$7.00 Series Preferred Dividend		24			167		24			167
$8.00 Series Preferred Dividend		14			96		14			96
Adjusted Earnings Applicable to  Common Stock	$	6,124			16,004	$	5,129			15,885
Diluted EPS	$	0.38				$	0.32

	(In Thousands Except per Share Amounts)
	Nine Months Ended September 30,
	2012					2011
Basic:	Income			Shares		Income			Shares
Net Income	$	11,670			15,717	$	11,398			15,599
Preferred Dividend		(155	)				(155	)
Earnings Applicable to Common Stock	$	11,515			15,717	$	11,243			15,599
Basic EPS	$	0.73				$	0.72
Diluted:
Earnings Applicable to Common Stock	$	11,515			15,717	$	11,243			15,599
$7.00 Series Preferred Dividend		73			167		73			167
$8.00 Series Preferred Dividend		42			96		42			96
Adjusted Earnings Applicable to  Common Stock	$	11,630			15,980	$	11,358			15,862
Diluted EPS	$	0.73				$	0.72