Earnings Per Share

3 Months Ended

Jun. 30, 2011

Earnings Per Share Disclosure Abstract

Earnings Per Share Text Block

2. EARNINGS PER SHARE

The following table shows the computation of basic and diluted earnings per share:

		For the three months ended				For the six months ended
		June 30,				June 30,
		2011		2010		2011			2010
		(In Thousands, Except Per Share Data)				(In Thousands, Except Per Share Data)
Numerator:
Net income allocable to common stockholders		$	4,830	$	2,609	$	8,344	$	2,431
Denominator:
Denominator for basic earnings per share - weighted average shares			8,599		7,107		8,588		7,096
Effect of dilutive employee stock options			128		152		139		125
	Denominator for diluted earnings per share – adjusted weighted average shares and assumed exercise		8,727		7,259		8,727		7,221
Earnings per share:
Basic:
	Net income allocable to common shareholders	$	0.56	$	0.37		0.97		0.34
Diluted:
	Net income allocable to common shareholders	$	0.55	$	0.36		0.96		0.34
Outstanding common stock equivalents having no dilutive effect			545		616		487		637