EARNINGS PER SHARE DATA

9 Months Ended

Sep. 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  September 30,		Nine Months Ended September 30,
	2014	2013	2014	2013
Basic:
Weighted average shares outstanding	14,656	14,444	14,696	14,430
Net income	$   17,643	$      16,352	$   44,800	$   43,333
Convertible preferred stock dividend	23	23	68	68
Net income attributable to common shareholders	$   17,620	$      16,329	$  44,732	$   43,265
Per share amount	$       1.20	$           1.13	$       3.04	$       3.00
Diluted:
Weighted average shares outstanding	14,656	14,444	14,696	14,430
Assumed conversion of convertible  preferred stock	840	840	840	840
Total dilutive shares	15,496	15,284	15,536	15,270
Net income attributable to  common shareholders	$  17,620	$      16,329	$  44,732	$  43,265
Convertible preferred stock dividend	23	23	68	68
Net income for diluted  earnings per share	$  17,643	$      16,352	$  44,800	$  43,333
Per share amount	$      1.14	$          1.07	$      2.88	$      2.84