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Earnings Per Share
 6 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
Note 6 - Earnings Per Share

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

Three Months Ended
Six Months Ended
June 30
June 30
(in thousands except per share data)
2012
2011
2012
2011
Numerator:
Net income
$12,232
$8,970
$24,101
$18,274
Denominator:
Basic earnings per share:
Weighted average shares
15,451
15,308
15,429
15,301
Diluted earnings per share:
Effect of dilutive stock options
50
24
46
27
Adjusted weighted average shares
15,501
15,332
15,475
15,328
Earnings per share:
Basic earnings per share
$0.79
$0.59
$1.56
$1.19
Diluted earnings per share
0.79
0.58
1.56
1.19

Options to purchase 89,746 and 178,569 common shares, respectively, were excluded from the diluted calculations above for the three and six months ended June 30, 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 385,022 common shares were excluded from the diluted calculations above for both the three and six months ended June 30, 2011.