Note 2 - Earnings Per Common Share

9 Months Ended

Sep. 30, 2014

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				Nine Months
	Ended September 30,				Ended September 30,
(In thousands, except per share amounts)	2014		2013		2014		2013
Numerator:
Net income	$	7,652	$	7,977	$	20,865	$	22,846
Denominator:
Basic earnings per common share - weighted-average shares		33,403		33,226		33,371		33,206
Effect of dilutive stock options		289		249		301		183
Diluted earnings per common share - weighted-average shares and assumed conversions		33,692		33,475		33,672		33,389
Basic earnings per common share	$	0.23	$	0.24	$	0.63	$	0.69
Diluted earnings per common share	$	0.23	$	0.24	$	0.62	$	0.68

              Options totaling 171,500 equivalent shares for each of the three-month and nine-month periods ended September 30, 2014, and 67,500 and 355,350 equivalent shares for the three-month and nine-month periods ended September 30, 2013, 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 because inclusion of average unrecognized compensation expense in the calculation would cause the options to be antidilutive.

Unvested performance unit awards totaling 39,885 equivalent shares for each of the three-month and nine-month periods ended September 30, 2014, and 49,404 equivalent shares for each of the three-month and nine-month periods ended September 30, 2013, 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.