Note 6 - Earnings Per Common Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

6.    Earnings Per Common Share

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

(In thousands, except per share amounts)	2013		2012		2011
Numerator:
Net income	$	30,147	$	27,267	$	24,285
Denominator:
Basic earnings per common share - weighted-average shares		33,221		33,095		32,969
Effect of dilutive stock options		208		130		144
Diluted earnings per common share - weighted-average shares and assumed conversions		33,429		33,225		33,113
Basic earnings per common share	$	0.91	$	0.82	$	0.74
Diluted earnings per common share	$	0.90	$	0.82	$	0.73

Options totaling 304,600, 697,725 and 559,350 shares were outstanding but were not included in the calculation of diluted earnings per share for 2013, 2012 and 2011, respectively, 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 (see Note 11) totaling 47,636, 65,400 and 69,270 shares for 2013, 2012 and 2011, 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.