INCOME PER COMMON AND COMMON EQUIVALENT SHARE

3 Months Ended

Jun. 30, 2013

INCOME PER COMMON AND COMMON EQUIVALENT SHARE

INCOME PER COMMON AND COMMON EQUIVALENT SHARE

4. INCOME PER COMMON AND COMMON EQUIVALENT SHARE

Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding during the period.  Diluted earnings per share include the dilutive impact of options and restricted stock units using the average share price of the Company’s common stock for the period. For the three months ended June 30, 2013 and June 30, 2012, common stock equivalents of 184,000 and 202,000, respectively, are excluded from diluted earnings per share, as their effect is anti-dilutive.

	Three Months Ended
(In thousands except per share amounts)	June 30, 2013		June 30, 2012
Earnings Per Share - Basic:
Net income	$	4,865	$	4,202
Weighted average number of common shares outstanding — basic	7,842		8,853
Net income per share — basic	$	0.62	$	0.47
Earnings Per Share - Diluted:
Net income	$	4,865	$	4,202
Weighted average number of common shares outstanding	7,842		8,853
Assumed exercise of stock options and restricted stock units, using the treasury stock method	40		52
Weighted average number of common and potential common shares outstanding — diluted	7,882		8,905
Net income per share — diluted	$	0.62	$	0.47