EARNINGS PER SHARE DATA

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Basic:
Weighted average shares outstanding		14,708		14,451		14,716		14,424
Net income	$	15,539	$	13,749	$	27,157	$	26,981
Convertible preferred stock dividend		22		22		45		45
Net income attributable to common shareholders	$	15,517	$	13,727	$	27,112	$	26,936
Per share amount	$	1.06	$	0.95	$	1.84	$	1.87
Diluted:
Weighted average shares outstanding		14,708		14,451		14,716		14,424
Assumed conversion of convertible preferred stock		840		840		840		840
Total dilutive shares		15,548		15,291		15,556		15,264
Net income attributable to common shareholders	$	15,517	$	13,727	$	27,112	$	26,936
Convertible preferred stock dividend		22		22		45		45
Net income for diluted earnings per share	$	15,539	$	13,749	$	27,157	$	26,981
Per share amount	$	1.00	$	0.90	$	1.75	$	1.77