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Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share

The computation of basic and diluted earnings per share is shown below (in thousands except per share data):

 

     Three months ended
March 31,		  
     2014     2013  

Basic earnings per common share computation:

     

Net income per consolidated statements of income

    $ 5,166      $ 4,297   

Net earnings allocated to participating securities

      (22 )      (20 ) 
  

 

 

    

 

 

  

Net earnings allocated to common stock

    $ 5,144      $ 4,277   
  

 

 

    

 

 

  

Distributed earnings allocated to common stock

    $ 2,375      $ 2,053   

Undistributed earnings allocated to common stock

      2,769        2,224   
  

 

 

    

 

 

  

Net earnings allocated to common stock

    $ 5,144      $ 4,277   
  

 

 

    

 

 

  

Weighted average common shares outstanding, including shares considered participating securities

      14,444        12,493   

Less: Average participating securities

      (52 )      (49 ) 
  

 

 

    

 

 

  

Weighted average shares

      14,392        12,444   
  

 

 

    

 

 

  

Basic earnings per common share

    $ 0.36      $ 0.34   
  

 

 

    

 

 

  

Diluted earnings per common share computation:

     

Net earnings allocated to common stock

    $ 5,144      $ 4,277   
  

 

 

    

 

 

  

Weighted average common shares outstanding for basic earnings per common share

      14,392        12,444   

Add: Dilutive effects of assumed exercises of stock options

      2        1   
  

 

 

    

 

 

  

Weighted average shares and dilutive potential common shares

      14,394        12,445   
  

 

 

    

 

 

  

Diluted earnings per common share

    $ 0.36      $ 0.34