EARNINGS PER SHARE DATA

3 Months Ended

Mar. 31, 2015

EARNINGS PER SHARE DATA [Abstract]

EARNINGS PER SHARE DATA

NOTE 11 - 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,
	2015	2014
Basic:
Weighted average shares outstanding	14,391	14,724
Net income	$      9,651	$      10,963
Convertible preferred stock dividend	23	23
Net income attributable to common shareholders	$      9,628	$      10,940
Per share amount	$        0.67	$          0.74
Diluted:
Weighted average shares outstanding	14,391	14,724
Assumed conversion of convertible  preferred stock	840	840
Total dilutive shares	15,231	15,564
Net income attributable to  common shareholders	$     9,628	$      10,940
Convertible preferred stock dividend	23	23
Net income for diluted  earnings per share	$     9,651	$      10,963
Per share amount	$       0.63	$          0.70