Computation of Earnings per Share

3 Months Ended

Mar. 31, 2013

Earnings per common share

Earnings Per Share [Text Block]

(In thousands, except per share data)

		Three months ended March 31,
		2013				2012
		Basic		Diluted		Basic		Diluted
Net income		$	15,100	$	15,100	$	13,178	$	13,178
Weighted average common shares outstanding			12,674		12,674		12,619		12,619
Effect of diluted securities
	Stock options and restricted stock				35				29
Weighted average diluted shares outstanding					12,709				12,648
Earnings per share		$	1.19	$	1.19	$	1.04	$	1.04
Anti-dilutive shares excluded from calculation					-				-
		Six months ended March 31,
		2013				2012
		Basic		Diluted		Basic		Diluted
Net income		$	31,851	$	31,851	$	26,374	$	26,374
Weighted average common shares outstanding			12,669		12,669		12,600		12,600
Effect of diluted securities
	Stock options and restricted stock				33				26
Weighted average diluted shares outstanding					12,702				12,626
Earnings per share		$	2.51	$	2.51	$	2.09	$	2.09
Anti-dilutive shares excluded from calculation					-				-