Note 5: Earnings Per Share

3 Months Ended

Sep. 30, 2012

Notes

Note 5: Earnings Per Share

NOTE 5: EARNINGS PER SHARE

	Three Months Ended September 30,
	2012	2011
(In Thousands, Except Per Share Data)
Basic:
Average shares outstanding	13,550	13,466
Net income available to common shareholders	$6,954	$4,443
Per share amount	$0.51	$0.33
Diluted:
Average shares outstanding	13,550	13,466
Net effect of dilutive stock options and warrants – based on
the treasury stock method using average market price	119	27
Diluted shares	13,669	13,493
Net income available to common shareholders	$6,954	$4,443
Per share amount	$0.51	$0.33

	Nine Months Ended September 30,
	2012	2011
(In Thousands, Except Per Share Data)
Basic:
Average shares outstanding	13,533	13,462
Net income available to common shareholders	$35,817	$14,600
Per share amount	$2.65	$1.08
Diluted:
Average shares outstanding	13,533	13,462
Net effect of dilutive stock options and warrants – based on
the treasury stock method using average market price	119	33
Diluted shares	13,652	13,495
Net income available to common shareholders	$35,817	$14,600
Per share amount	$2.62	$1.08

Options to purchase 81,375 and 661,935 shares of common stock were outstanding at September 30, 2012 and 2011, respectively, but were not included in the computation of diluted earnings per share for each three-month period because the options’ exercise prices were greater than the average market prices of the common shares for the three months ended September 30, 2012 and 2011, respectively.

Options to purchase 81,375 and 616,235 shares of common stock were outstanding at September 30, 2012 and 2011, respectively, but were not included in the computation of diluted earnings per share for each nine-month period because the options’ exercise prices were greater than the average market prices of the common shares for the nine months ended September 30, 2012 and 2011, respectively.