Earnings Per Share

3 Months Ended

Jun. 30, 2011

Earnings Per Share

Earnings Per Share [Text Block]

NOTE 6: EARNINGS PER SHARE

	Three Months Ended June 30,
	2011	2010
	(In Thousands, Except
	Per Share Data)
Basic:
Average shares outstanding	13,457	13,431
Net income available to common shareholders	$                   5,108	$                   4,977
Per share amount	$                     0.38	$                     0.37
Diluted:
Average shares outstanding	13,457	13,431
Net effect of dilutive stock options and warrants – based on the treasury
stock method using average market price	498	617
Diluted shares	13,955	14,048
Net income available to common shareholders	$                   5,108	$                   4,977
Per share amount	$                     0.37	$                     0.35

Options to purchase 614,760 and 423,958 shares of common stock were outstanding at June 30, 2011 and 2010, respectively, but were not included in the computation of diluted earnings per share for each period because the options’ exercise prices were greater than the average market prices of the common shares for the three months ended June 30, 2011 and 2010, respectively.

	Six Months Ended June 30,
	2011	2010
	(In Thousands, Except
	Per Share Data)
Basic:
Average shares outstanding	13,457	13,429
Net income available to common shareholders	$10,155	$9,676
Per share amount	$0.75	$0.72
Diluted:
Average shares outstanding	13,457	13,429
Net effect of dilutive stock options and warrants – based on the treasury
stock method using average market price	531	607
Diluted shares	13,988	14,036
Net income available to common shareholders	$10,155	$9,676
Per share amount	$0.73	$0.69

Options to purchase 529,160 and 427,308 shares of common stock were outstanding at June 30, 2011 and 2010, respectively, but were not included in the computation of diluted earnings per share for each period because the options’ exercise prices were greater than the average market prices of the common shares for the three months ended June 30, 2011 and 2010, respectively.