EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements [Abstract]

EARNINGS PER SHARE

NOTE 21 - EARNINGS PER SHARE

Following are the factors used in the earnings per share computations:

	2011		2010		2009
Basic earnings per common share:
Net income	$	30,662,000	$	24,543,000	$	18,979,000
Less:   Dividends and accretion of discount on preferred stock		0		3,187,000		2,694,000
Net income available to common shareholders	$	30,662,000	$	21,356,000	$	16,285,000
Weighted-average common shares outstanding		16,204,952		16,120,606		12,851,845
Basic earnings per common share	$	1.89	$	1.32	$	1.27
Diluted earnings per common share:
Net income	$	30,662,000	$	24,543,000	$	18,979,000
Less:   Dividends and accretion of discount on preferred stock		0		3,187,000		2,694,000
Net income available to common shareholders	$	30,662,000	$	21,356,000	$	16,285,000
Weighted-average common shares outstanding for
basic earnings per common share		16,204,952		16,120,606		12,851,845
Add: Dilutive effect of assumed exercise of Warrant		10,370		0		0
Add: Dilutive effect of assumed exercises of stock options
and awards		109,322		93,141		100,599
Average shares and dilutive potential common shares		16,324,644		16,213,747		12,952,444
Diluted earnings per common share	$	1.88	$	1.32	$	1.26

    Stock options for 69,000, 108,000 and 110,000 shares of common stock were not considered in computing diluted earnings per common share for 2011, 2010 and 2009 because they were antidilutive. In addition, warrants for 198,269 shares of common stock were not considered in computing diluted earnings per common share for 2010 and 2009 because they were antidilutive.