Note 11 - Earnings Per Common Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 11: 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 by the average number of common shares outstanding during the period. Diluted earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period plus the impact of common stock equivalents.

	For the Three Months Ended March 31,
	2014		2013
	(In thousands, except per share data)
Net income (numerator)	$	15,307	$	17,271
Basic earnings per common share
Weighted average number of common shares outstanding - basic (denominator)		26,433		27,145
Basic earnings per common share	$	0.58	$	0.64
Diluted earnings per common share
Weighted average number of common shares outstanding - basic		26,433		27,145
Add exercise of options reduced by the number of shares that could have been purchased with the proceeds of such exercise		104		12
Weighted average number of common shares outstanding - diluted (denominator)		26,537		27,157
Diluted earnings per common share	$	0.58	$	0.64

For the three months ended March 31, 2014 and 2013, options to purchase 1,148 thousand and 2,317 thousand shares of common stock, respectively, were outstanding but not included in the computation of diluted net income per share because the option exercise price exceeded the fair value of the stock such that their inclusion would have had an anti-dilutive effect.