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Earnings Per Share

3 Months Ended

Mar. 31, 2012

Notes to Financial Statements [Abstract]

Earnings Per Share

Note 8 - Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

		Three Months Ended
		March 31
(in thousands except per share data)		2012				2011
Numerator:
Net income		$	11,869			$	9,304
Denominator:
Basic earnings per share:
Weighted average shares			15,407				15,294
Diluted earnings per share:
Effect of dilutive stock options			49				30
Adjusted weighted average shares			15,456				15,324
Earnings per share:
Basic earnings per share		$	0.77			$	0.61
Diluted earnings per share			0.77				0.61

Options to purchase 248,555 common shares were excluded from the diluted calculations above for the three months ended March 31, 2012, because the exercise prices on the options were greater than the average market price for the period.  Unvested restricted stock grants were also used in the calculation of diluted earnings per share based on the treasury method.   Options to purchase 293,322 common shares were excluded from the diluted calculations above for the three months ended March 31, 2011.

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- Definition

This element may be used to capture the complete disclosure pertaining to an entity's earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

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