EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 18 EARNINGS PER SHARE

Basic earnings per common share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted income per common share is computed similarly to basic income per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common shares had been issued.

The following table is a reconciliation of the net income and the weighted average shares used in the computation of basic and diluted earnings per share for the periods presented:

	Three months ended March 31,
	2013		2012
Income available to common stockholders:
- Basic and diluted	$	13,311,187	$	11,475,012
Weighted average number of shares:
- Basic		29,820,836		29,800,624
- Effect of dilutive securities – warrants and options		130,580		279,530
- Diluted		29,951,416		30,080,154
Net income per share
- Basic	$	0.45	$	0.39
- Diluted	$	0.44	$	0.38