EARNINGS PER SHARE

6 Months Ended

Jun. 30, 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:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2013		2012		2013		2012
Income available to common shareholders:
- Basic and diluted	$	15,675,810	$	13,446,666	$	28,986,997	$	24,921,678
Weighted average number of shares:
- Basic		29,825,336		29,820,836		29,823,098		29,810,996
- Effect of dilutive warrants and options		168,244		197,149		149,516		238,340
- Diluted		29,993,580		30,017,985		29,972,614		30,049,336
Net income per share
- Basic	$	0.53	$	0.45	$	0.97	$	0.84
- Diluted	$	0.52	$	0.45	$	0.97	$	0.83