Note 5 - Net Income per Common Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 5. Net Income per Common Share

The calculation of net income per common share for the nine and three months ended September 30, 2013 and 2012 was as follows.

	Nine Months Ended September 30,				Three Months Ended September 30,
(dollars and shares in thousands, except per share data)	2013		2012		2013		2012
Basic:
Net income available to common shareholders	$	34,579	$	24,666	$	11,615	$	9,533
Average common shares outstanding		25,689		22,538		25,784		23,158
Basic net income per common share	$	1.35	$	1.09	$	0.45	$	0.41
Diluted:
Net income available to common shareholders	$	34,579	$	24,666	$	11,615	$	9,533
Average common shares outstanding		25,689		22,538		25,784		23,158
Adjustment for common share equivalents		615		578		642		609
Average common shares outstanding-diluted		26,304		23,116		26,426		23,767
Diluted net income per common share	$	1.31	$	1.07	$	0.44	$	0.40
Anti-dilutive shares		101,466		130,616		95,966		130,616

The Company declared a 10% stock divided payable on June 14, 2013. Per share amounts and the number of outstanding shares for periods ended prior to June 30, 2013 have been adjusted to give effect to the 10% common stock dividend.