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Earnings Per Share | 6 Months Ended
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Jun. 30, 2013
Earnings Per Share [Abstract] |
Earnings Per Share | Note 3. Earnings Per Share The Company computes earnings per share (EPS) in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share. Additionally, for periods after December 31, 2012, the Company applied the “two-class method” in computing basic and diluted earnings per share. ASC Topic 260 clarifies that unvested share-based payment awards with a right to receive nonforfeitable dividends are participating securities. The two-class method allocates net income available to common shareholders and participating securities to the extent that each security shares in earnings as if all earnings for the period had been distributed. The amount of earnings allocable to common shareholders is divided by the weighted-average number of common shares outstanding for the period. Participating securities that are convertible into common stock are included in the computation of basic earnings per share if the effect is dilutive. Diluted EPS include potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any outstanding options or warrants were exercised or restricted stock becomes vested, and includes the “if converted” method for participating securities if the effect is dilutive. The two-class method of calculating diluted EPS is used in the event the “if converted” method is anti-dilutive.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
|  | (in thousands, except share and per share amounts) |
Basic EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income, as reported |  | $ | 7,644 |  |  | $ | 3,445 |  |  | $ | 16,495 |  |  | $ | 13,006 |
Less allocated income to unvested shares |  |  | 26 |  |  |  | 2 |  |  |  | 41 |  |  |  | 5 |
Net income available to common shareholders—basic |  | $ | 7,618 |  |  | $ | 3,443 |  |  | $ | 16,454 |  |  | $ | 13,001 |
Basic weighted average common shares |  |  | 18,353,174 |  |  |  | 18,150,306 |  |  |  | 18,317,452 |  |  |  | 18,145,525 |
Basic earnings per common share |  | $ | 0.42 |  |  | $ | 0.19 |  |  | $ | 0.90 |  |  | $ | 0.72 |
Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders—diluted |  | $ | 7,619 |  |  | $ | 3,443 |  |  | $ | 16,455 |  |  | $ | 13,002 |
Diluted weighted average common shares: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares |  |  | 18,353,174 |  |  |  | 18,150,306 |  |  |  | 18,317,452 |  |  |  | 18,145,525 |
Stock options and performance shares |  |  | 359,125 |  |  |  | 438,189 |  |  |  | 396,324 |  |  |  | 440,631 |
Diluted weighted average common shares |  |  | 18,712,299 |  |  |  | 18,588,495 |  |  |  | 18,713,776 |  |  |  | 18,586,156 |
Diluted earnings per common share |  | $ | 0.41 |  |  | $ | 0.19 |  |  | $ | 0.88 |  |  | $ | 0.70 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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