EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 21 - EARNINGS PER SHARE

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

	2012		2011		2010
Basic earnings per common share:
Net income	$	35,394,000	$	30,662,000	$	24,543,000
Less:   Dividends and accretion of discount on preferred stock		0		0		3,187,000
Net income available to common shareholders	$	35,394,000	$	30,662,000	$	21,356,000
Weighted-average common shares outstanding		16,323,870		16,204,952		16,120,606
Basic earnings per common share	$	2.17	$	1.89	$	1.32
Diluted earnings per common share:
Net income	$	35,394,000	$	30,662,000	$	24,543,000
Less:   Dividends and accretion of discount on preferred stock		0		0		3,187,000
Net income available to common shareholders	$	35,394,000	$	30,662,000	$	21,356,000
Weighted-average common shares outstanding for basic earnings per common share		16,323,870		16,204,952		16,120,606
Add: Dilutive effect of assumed exercise of Warrant		38,224		10,370		0
Add: Dilutive effect of assumed exercises of stock options and awards		120,843		109,322		93,141
Average shares and dilutive potential common shares		16,482,937		16,324,644		16,213,747
Diluted earnings per common share	$	2.15	$	1.88	$	1.32

There were no antidilutive stock options for 2012, but stock options for 69,000 and 108,000 shares of common stock were not considered in computing diluted earnings per common share for 2011 and 2010 because they were antidilutive. In addition, the warrants were not antidilutive for 2012 and 2011, but the warrants for 198,269 shares of common stock were not considered in computing diluted earnings per common share for 2010 because they were antidilutive.