Note 19 - Earnings Per Common Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Text Block]

Note 19: Earnings Per Common Share

The table below shows earnings per common share and diluted earnings per common share. Basic earnings per common share are computed by dividing net income applicable to common equity by the average number of common shares outstanding during the period. Diluted earnings per common share are computed by dividing net income applicable to common equity by the average number of common shares outstanding during the period plus the impact of common stock equivalents.

	2012		2011		2010
	(In thousands, except per share data)
Net income applicable to common equity (numerator)	$	81,127	$	87,888	$	94,577
Basic earnings per common share
Weighted average number of common shares outstanding — basic (denominator)		27,654		28,628		29,166
Basic earnings per common share	$	2.93	$	3.07	$	3.24
Diluted earnings per common share
Weighted average number of common shares outstanding — basic		27,654		28,628		29,166
Add exercise of options reduced by the number of shares that could have been purchased with the proceeds of such exercise		45		114		305
Weighted average number of common shares outstanding — diluted (denominator)		27,699		28,742		29,471
Diluted earnings per common share	$	2.93	$	3.06	$	3.21

For the years ended December 31, 2012, 2011, and 2010, options to purchase 2,049 thousand, 1,533 thousand and 380 thousand shares of common stock, respectively, were outstanding but not included in the computation of diluted earnings per common share because the option exercise price exceeded the fair value of the stock such that their inclusion would have had an anti-dilutive effect.