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Earnings Per Share | 12 Months Ended
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Dec. 31, 2011
Earnings Per Share [Abstract] |
Earnings Per Share [Text Block] | Note 9 Common Stock and Earnings per Share The table below shows activity in the outstanding shares of the Company’s common stock during 2011.
| 2011
Shares outstanding at January 1 | 9,387,791
10% stock dividend issued December 15, 2011 | 940,839
Issuance of common stock: |
Issued under stock-based compensation plan | 21,195
Stock options/SARs exercised | 8,105
Shares outstanding at December 31 | 10,357,930
Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net income, adjusted for the net income effect of the interest expense on the outstanding convertible debentures, by the sum of the weighted average number of common shares outstanding and the weighted average number of potential common shares outstanding. Under the treasury stock method, outstanding stock options and SARs are dilutive when the average market price of the Company’s common stock, combined with the effect of any unamortized compensation expense, exceeds the option price during a period. In addition, proceeds from the assumed exercise of dilutive options along with the related tax benefit are assumed to be used to repurchase common shares at the average market price of such stock during the period. Anti-dilutive shares are those option shares with exercise prices in excess of the current market value. The calculations of basic and diluted earnings per share are as follows:
|  | December 31,
(In thousands except share and per share data) |  | 2011 |  | 2010 |  | 2009
Basic |  |  |  |  |  |  |  |  |
Net income |  | $ | 23,009 |  | $ | 20,310 |  | $ | 16,129
Weighted-average common shares outstanding |  |  | 10,297,244 |  |  | 10,268,812 |  |  | 10,072,340
Basic earnings per share |  | $ | 2.23 |  | $ | 1.98 |  | $ | 1.60
Diluted |  |  |  |  |  |  |  |  |
Basic net income |  | $ | 23,009 |  | $ | 20,310 |  | $ | 16,129
Net income effect of 5.33% convertible |  |  |  |  |  |  |  |  |
debentures |  |  | — |  |  | — |  |  | 55
Diluted net income |  | $ | 23,009 |  | $ | 20,310 |  | $ | 16,184
Weighted-average common shares outstanding |  |  | 10,297,244 |  |  | 10,268,812 |  |  | 10,072,340
Effect of dilutive restricted stock, stock |  |  |  |  |  |  |  |  |
options and SARs |  |  | 135,138 |  |  | 123,521 |  |  | 136,862
Effect of convertible debentures |  |  | — |  |  | — |  |  | 102,274
Weighted-average common shares outstanding |  |  |  |  |  |  |  |  |
assuming dilution |  |  | 10,432,382 |  |  | 10,392,333 |  |  | 10,311,476
Diluted earnings per share |  | $ | 2.21 |  | $ | 1.95 |  | $ | 1.57
All share and per share data have been restated to give effect to the 10% stock dividend issued on December 15, 2011.

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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 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256 Reference 2: 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=6945512&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: 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=6920599&loc=d3e1278-109256 Reference 5: 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 6: 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=6880815&loc=d3e20235-122688 + Details
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