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EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2016

EARNINGS PER SHARE

Schedule of computation of EPS

		Three months ended,								Nine months ended
		September 30,								September 30,
(In thousands, except per share data)		2016				2015				2016				2015
Net income		$	8,851			$	7,890			$	26,331			$	13,116
Dividends paid on and earnings allocated to participating securities			(188	)			(149	)			(542	)			(295	)
Income attributable to common stock		$	8,663			$	7,741			$	25,789			$	12,821

Weighted average common shares outstanding, including participating securities			17,537				17,426				17,511				13,901
Weighted average participating securities			(372	)			(330	)			(365	)			(315	)
Weighted average common shares outstanding			17,165				17,096				17,146				13,586
Basic earnings per common share		$	0.50			$	0.45			$	1.50			$	0.94

Income attributable to common stock		$	8,663			$	7,741			$	25,789			$	12,821
Impact of assumed conversions - interest on 8.5% trust preferred securities			219				-				661				-
Income attributable to common stock including assumed conversions		$	8,882			$	7,741			$	26,450			$	12,821

Weighted average common shares outstanding			17,165				17,096				17,146				13,586
Incremental shares from assumed conversions of options and restricted stock units			15				6				11				4
Incremental shares from assumed conversions of 8.5% trust preferred securities			546				-				531				-
Weighted average common and equivalent shares outstanding			17,726				17,102				17,688				13,590
Diluted earnings per common share		$	0.50			$	0.45			$	1.50			$	0.94