EARNINGS PER SHARE DATA

9 Months Ended

Sep. 30, 2012

EARNINGS PER SHARE DATA [Abstract]

EARNINGS PER SHARE DATA

NOTE 9 - EARNINGS PER SHARE DATA

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Basic:
Weighted average shares outstanding		14,411		14,315		14,375		14,307
Net income	$	13,092	$	8,274	$	36,915	$	22,227
Convertible preferred stock dividend		23		23		68		68
Net income attributable to common shareholders	$	13,069	$	8,251	$	36,847	$	22,159
Per share amount	$	0.91	$	0.58	$	2.56	$	1.55
Diluted:
Weighted average shares outstanding		14,411		14,315		14,375		14,307
Assumed conversion of convertible preferred stock		840		840		840		840
Total dilutive shares		15,251		15,155		15,215		15,147
Net income attributable to common shareholders	$	13,069	$	8,251	$	36,847	$	22,159
Convertible preferred stock dividend		23		23		68		68
Net income for diluted earnings per share	$	13,092	$	8,274	$	36,915	$	22,227
Per share amount	$	0.86	$	0.55	$	2.43	$	1.47