Earnings per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Earnings per Share

Basic earnings per share is based upon the weighted average common shares outstanding during each year.  Diluted earnings per share is based on the basic weighted earnings per share with additional weighted common shares for common stock equivalents. During the three and six months ended June 30, 2011 the Company did not have any common stock equivalents; therefore, diluted earnings per share were equal to basic earnings per share for those periods. During the three and six months ended June 30, 2012 the Company had grants of shares of common stock to certain employees of the Company under the 2011 Restricted Stock Award Plan. A reconciliation of the numerator (net income) and denominator (weighted average number of shares outstanding of the basic and diluted earnings per share ("EPS")) for the three months and six months ended June 30, 2012 is as follows (in thousands, except per share data):

	Three months ended June 30, 2012
	Net Income (numerator) (in thousands)		Shares (denominator) (in thousands)	Per Share Amount
Basic EPS	$	18,227	86,451	$	0.21
Effect of restricted stock	—		328
Diluted EPS	$	18,227	86,779	$	0.21

	Six months ended June 30, 2012
	Net Income (numerator) (in thousands)	Shares (denominator) (in thousands)	Per Share Amount
Basic EPS	34,816	86,463	$	0.40
Effect of restricted stock	—	339
Diluted EPS	34,816	86,802	$	0.40