EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2012

EARNINGS PER SHARE

2. EARNINGS PER SHARE

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

	For the three  months ended June 30,				For the six months ended June 30,
	2012		2011		2012		2011
	(In Thousands, Except Per Share Data)
Numerator:
Net income allocable to common stockholders	$	6,638	$	4,830	$	12,390	$	8,344
Denominator:
Denominator for basic earnings per share—weighted average shares		8,706		8,599		8,696		8,588
Effect of dilutive employee stock options and warrants		72		128		75		139
Denominator for diluted earnings per share—adjusted weighted average shares and assumed exercise		8,778		8,727		8,771		8,727
Earnings per share:
Basic:
Net income allocable to common shareholders	$	0.76	$	0.56	$	1.42	$	0.97
Diluted:
Net income allocable to common shareholders	$	0.76	$	0.55	$	1.41	$	0.96
Outstanding common stock equivalents having no dilutive effect		536		545		536		487