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Note 4 - Earnings Per Share
9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

4 – Earnings Per Share


The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share information):


   

Three Months Ended September 30,

   

Nine Months Ended September 30,

 
   

2014

   

2013

   

2014

   

2013

 

Numerator:

                               

Numerator for basic and diluted earnings per share – Net income available to common shareholders

  $ 23,478     $ 15,179     $ 55,330     $ 34,358  
                                 

Denominator–

                               

Denominator for basic earnings per share – weighted average shares outstanding

    40,008       39,558       39,700       39,411  

Effect of dilutive securities–

                               

Employee and director stock options and restricted share awards

    1,083       1,065       1,120       1,081  

Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions

    41,091       40,623       40,820       40,492  
                                 

Basic earnings per common share

  $ .59     $ .38     $ 1.36     $ .87  

Diluted earnings per common share and common share equivalents

  $ .57     $ .37     $ 1.39     $ .85  

Options to purchase shares of common stock that were outstanding for the three months and nine months ended September 30, 2014 and 2013 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands):


   

Three Months Ended

September 30,

   

Nine months Ended

September 30,

 
   

2014

   

2013

   

2014

   

2013

 

Anti-dilutive options

    395       865       516       865