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Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2012

Earnings Per Common Share [Abstract]

The calculation for basic and diluted earnings per common share

The calculation for basic and diluted earnings per common share follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
(Amounts in thousands, except share and per share data)		2012				2011				2012				2011
Net income		$	10,059			$	5,318			$	20,138			$	16,797
Dividends on preferred stock			220				286				786				417
Net income available to common shareholders		$	9,839			$	5,032			$	19,352			$	16,380
Weighted average common shares outstanding, basic			20,013,264				17,896,534				18,812,516				17,886,902
Diluted shares for stock options			162,184				3,551				42,832				5,643
Convertible preferred shares			1,301,049				1,305,549				1,304,038				640,819
Weighted average common shares outstanding, diluted			21,476,497				19,205,634				20,159,386				18,533,364
Basic earnings per common share		$	0.49			$	0.28			$	1.03			$	0.92
Diluted earnings per common share		$	0.47			$	0.28			$	1.00			$	0.91

Options and warrants to purchase the Company's Common Stock

The following outstanding options and warrants to purchase Common Stock were excluded from the calculation of diluted earnings per share because the exercise price was greater than the market value of the Common Stock, which would result in an antidilutive effect on diluted earnings per share:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2012				2011				2012				2011
Options and warrants			338,536				480,045				450,966				480,221

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- Definition

Tabular disclosure of the numerators and the denominators of the basic and diluted per-share (or per-unit) computations for income from continuing operations, including the effect that has been given to preferred dividends.

+ 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

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- Definition

Tabular disclosure of the change in stock options.

+ References

No definition available.

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