EARNINGS PER SHARE DATA

3 Months Ended

Jun. 30, 2011

EARNINGS PER SHARE DATA

EARNINGS PER SHARE DATA

NOTE 7. EARNINGS PER SHARE DATA

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated.

	Three Months Ended June 30						Six Months Ended June 30
	2011			2010			2011			2010
Basic:
Weighted average shares outstanding		14,327,266			13,938,437			14,303,209			13,550,871
Net income	$	7,610,000		$	4,584,000		$	13,953,000		$	8,176,000
Convertible preferred stock dividend		(22,000	)		(22,000	)		(45,000	)		(45,000	)
Net income attributable to common shareholders	$	7,588,000		$	4,562,000		$	13,908,000		$	8,131,000
Per share amount	$	0.53		$	0.33		$	0.97		$	0.60
Diluted:
Weighted average shares outstanding		14,327,266			13,938,437			14,303,209			13,550,871
Net effect of dilutive stock options –   based on the treasury stock method					253						14,438
Assumed conversion of   convertible notes					419,603						209,802
Assumed conversion of convertible   preferred stock		840,000			840,000			840,000			840,000
Total		15,167,266			15,198,293			15,143,209			14,615,111
Net income attributable to   common shareholders	$	7,588,000		$	4,562,000		$	13,908,000		$	8,131,000
Interest on convertible notes,   after income taxes					95,000						95,000
Convertible preferred stock dividend		22,000			22,000			45,000			45,000
Net income for diluted   earnings per share	$	7,610,000		$	4,679,000		$	13,953,000		$	8,271,000
Per share amount	$	0.50		$	0.31		$	0.92		$	0.57