XML 35 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share
9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

Note 3 - Earnings Per Share

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 by the sum of the weighted-average number of common shares outstanding and the weighted-average number of potential common shares outstanding. There were no anti-dilutive shares in the three-month and nine-month periods ended September 30, 2013 and 2012. The calculations of basic and diluted earnings per share are as follows:


    Three Months Ended   Nine Months Ended
    September 30,       September 30,
(In thousands except share and per share data)       2013       2012   2013       2012
Basic                        
       Net income   $ 6,138   $ 6,092   $ 18,243   $ 17,962
       Weighted-average common shares                        
              outstanding           11,450,978           11,380,047           11,435,400           11,371,141
                     Basic earnings per share   $ .54   $ .53   $ 1.60   $ 1.58
Diluted                        
       Net income   $ 6,138   $ 6,092   $ 18,243   $ 17,962
       Weighted-average common shares                        
              outstanding     11,450,978     11,380,047     11,435,400     11,371,141
       Effect of dilutive restricted stock, stock                        
              options and stock appreciation rights     217,085     177,499     191,915     178,948
       Weighted-average common shares                        
              outstanding assuming dilution     11,668,063     11,557,546     11,627,315     11,550,089
                     Diluted earnings per share   $ .53   $ .53   $ 1.57   $ 1.56