Net income applicable to common equity (numerator)

$

35,462

$

40,248

$

71,879

$

80,699

Basic earnings per common share

Weighted average number of common shares outstanding - basic (denominator)

26,680

26,648

26,677

26,753

Basic earnings per common share

$

1.33

$

1.51

$

2.69

$

3.02

Diluted earnings per common share

Weighted average number of common shares outstanding - basic

26,680

26,648

26,677

26,753

Add common stock equivalents for options

1

-

1

3

Weighted average number of common shares outstanding - diluted (denominator)

26,681

26,648

26,678

26,756

Diluted earnings per common share

$

1.33

$

1.51

$

2.69

$

3.02