Earnings Per Share

9 Months Ended

Sep. 30, 2011

Earnings Per Share Disclosure Abstract

Earnings Per Share Text Block

2. EARNINGS PER SHARE

The following table shows the computation of basic and diluted earnings per share:

		For the three months ended				For the nine months ended
		September 30,				September 30,
		2011		2010		2011			2010
		(In Thousands, Except Per Share Data)
Numerator:
Net income allocable to common stockholders		$	6,094	$	7,530	$	14,438	$	9,961
Denominator:
Denominator for basic earnings per share - weighted average shares			8,605		7,907		8,594		7,369
Effect of dilutive employee stock options and warrants			96		124		124		125
	Denominator for diluted earnings per share – adjusted weighted average shares and assumed exercise		8,701		8,031		8,718		7,494
Earnings per share:
Basic:
	Net income allocable to common shareholders	$	0.71	$	0.95	$	1.68	$	1.35
Diluted:
	Net income allocable to common shareholders	$	0.70	$	0.94	$	1.66	$	1.33
Outstanding common stock equivalents having no dilutive effect			537		603		538		604