EARNINGS PER SHARE DATA

3 Months Ended

Mar. 31, 2014

EARNINGS PER SHARE DATA [Abstract]

EARNINGS PER SHARE DATA

NOTE 10 - EARNINGS PER SHARE DATA

Basic earnings per share is computed based on weighted average shares outstanding and excludes dilutive securities. Diluted earnings per share is computed including the impacts of all potentially dilutive securities.

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 March 31,
	2014		2013
Basic:
Weighted average shares outstanding		14,724		14,395
Net income	$	11,618	$	13,232
Convertible preferred stock dividend		23		23
Net income attributable to common shareholders	$	11,595	$	13,209
Per share amount	$	0.79	$	0.92
Diluted:
Weighted average shares outstanding		14,724		14,395
Assumed conversion of convertible  preferred stock		840		840
Total dilutive shares		15,564		15,235
Net income attributable to  common shareholders	$	11,595	$	13,209
Convertible preferred stock dividend		23		23
Net income for diluted  earnings per share	$	11,618	$	13,232
Per share amount	$	0.75	$	0.87