Earnings Per Share

6 Months Ended

Jun. 30, 2014

3. 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,
	2014		2013		2014		2013
	(In Thousands, Except Per Share Data)
Numerator:
Net income allocable to common stockholders	$	12,725	$	10,299	$	29,636	$	19,347


Denominator:
Denominator for basic earnings per share - weighted average shares		8,915		8,802		8,910		8,792
Effect of dilutive employee stock options and warrants		228		95		230		89

Denominator for diluted earnings per share - adjusted weighted average shares and assumed exercise		9,143		8,897		9,140		8,881


Earnings per share:
Basic:
Net income allocable to common stockholders	$	1.43	$	1.17	$	3.33	$	2.20

Diluted:
Net income allocable to common stockholders	$	1.39	$	1.16	$	3.24	$	2.18


Outstanding common stock equivalents having no dilutive effect		44		548		44		637

The entire disclosure for earnings per share.