Note 4 - Earnings Per Share

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

4 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Numerator:
Numerator for basic and diluted earnings per share – Net income available to common shareholders	$	10,817	$	19,576	$	13,212	$	36,357
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding		40,250		40,275		40,402		40,171
Effect of dilutive securities–
Employee and director stock options and restricted share awards		528		797		512		858
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions		40,778		41,072		40,914		41,029
Basic earnings per common share	$	.27	$	.49	$	.33	$	.91
Diluted earnings per common share and common share equivalents	$	.27	$	.48	$	.32	$	.89

Options to purchase shares of common stock that were outstanding for the three months and six months ended June 30, 2016, and 2015, that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Options		2,525		1,234		2,522		1,045