Note 2 - Earnings Per Common Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

(2)     Earnings per Common Share

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

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands, except per share amounts)	2013		2012		2013		2012
Numerator:
Net income	$	7,977	$	6,518	$	22,846	$	19,548
Denominator:
Basic earnings per common share - weighted-average shares		33,226		33,107		33,206		33,085
Effect of dilutive stock options		249		116		183		140
Diluted earnings per common share - weighted-average shares and assumed conversions		33,475		33,223		33,389		33,225
Basic earnings per common share	$	0.24	$	0.20	$	0.69	$	0.59
Diluted earnings per common share	$	0.24	$	0.20	$	0.68	$	0.59

Options totaling 67,500 and 355,350 shares for the three-month and nine-month periods ended September 30, 2013, respectively, and 683,775 and 662,325 shares for the three-month and nine-month periods ended September 30, 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 49,404 shares for each of the three-month and nine-month periods ended September 30, 2013, and 44,324 and 71,903 shares for the three-month and nine-month periods ended September 30, 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.