Note 2 - Earnings Per Common Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Text Block]

(2)  Earnings per Common Share

              Basic and diluted earnings per common share were computed as follows:

	Three Months  Ended March 31,
(In thousands, except per share amounts)	2013		2012
Numerator:
Net income	$	7,202	$	5,446
Denominator:
Basic earnings per common share - weighted-average shares		22,121		22,033
Effect of dilutive stock options		93		108
Diluted earnings per common share - weighted-average shares and assumed conversions		22,214		22,141
Basic earnings per common share	$	0.33	$	0.25
Diluted earnings per common share	$	0.32	$	0.25

              Options totaling 396,050 and 272,500 shares for the three-month periods ended March 31, 2013 and March 31 2012, respectively, were outstanding but were not included in the calculation of diluted earnings per share because including the options in the denominator would be antidilutive, or decrease the number of weighted-average shares, due to their exercise prices exceeding the average market price of the common shares or due to inclusion of average unrecognized compensation expense in the calculation.

Unvested performance unit awards totaling 34,641 and 35,680 shares for the three-month periods ended March 31, 2013 and March 31, 2012, respectively, were considered outstanding but were not included in the calculation of diluted earnings per share because inclusion of average unrecognized compensation expense in the calculation would cause the performance units to be antidilutive.