Calculation of Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Calculation of Earnings Per Share

Calculation of Earnings Per Share

	Three Months				Six Months
For the Periods Ended June 30,	2013		2012		2013		2012
(in thousands, except shares and per share data)
Calculation of Basic Earnings Per Share:
Net Income	$	4,356	$	5,060	$	19,225	$	15,787
Weighted average shares outstanding	9,621,580		9,586,159		9,611,610		9,578,715
Basic Earnings Per Share	$	0.45	$	0.53	$	2.00	$	1.65
Calculation of Diluted Earnings Per Share:
Reconciliation of Numerator:
Net Income	$	4,356	$	5,060	$	19,225	$	15,787
Effect of 8.25% Convertible debentures	11		13		22		27
Adjusted numerator—Diluted	$	4,367	$	5,073	$	19,247	$	15,814
Reconciliation of Denominator:
Weighted shares outstanding—Basic	9,621,580		9,586,159		9,611,610		9,578,715
Effect of dilutive securities:
Share-based Compensation	22,454		32,380		22,789		31,162
8.25% Convertible debentures	51,436		63,058		52,854		64,363
Adjusted denominator—Diluted	9,695,470		9,681,597		9,687,253		9,674,240
Diluted Earnings Per Share	$	0.45	$	0.52	$	1.99	$	1.63