Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 3 – Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted-average number of common shares outstanding and the weighted-average number of potential common shares outstanding. There were no anti-dilutive shares in the three months ended March 31, 2012 or 2011. The calculations of basic and diluted earnings per share are as follows:

	Three Months Ended
	March 31,
(In thousands, except share and per share data)	2012		2011
Basic
Net income	$	5,908	$	5,719
Weighted-average common shares outstanding		10,335,655		10,292,305
Basic earnings per share	$	.57	$	.55
Diluted
Net income	$	5,908	$	5,719
Weighted-average common shares outstanding		10,335,655		10,292,305
Effect of dilutive restricted stock, stock options and stock
appreciation rights		159,634		139,515
Weighted-average common shares outstanding assuming dilution		10,495,289		10,431,820
Diluted earnings per share	$	.56	$	.55