Note 5: Earnings Per Share

3 Months Ended

Sep. 30, 2013

Notes

Note 5: Earnings Per Share

NOTE 5: EARNINGS PER SHARE

	Three Months Ended September 30,
	2013	2012
(In Thousands, Except Per Share Data)
Basic:
Average shares outstanding	13,647	13,550
Net income available to common stockholders	$8,294	$6,954
Per share amount	$0.61	$0.51
Income from continuing operations available to common stockholders	$8,294	$6,892
Per share amount	$0.61	$0.50
Income from discontinued operations available to common stockholders	$--	$62
Per share amount	$--	$0.01
Diluted:
Average shares outstanding	13,647	13,550
Net effect of dilutive stock options and warrants – based on the treasury
stock method using average market price	58	119
Diluted shares	13,705	13,669
Net income available to common stockholders	$8,294	$6,954
Per share amount	$0.61	$0.51
Income from continuing operations available to common stockholders	$8,294	$6,892
Per share amount	$0.61	$0.50
Income from discontinued operations available to common stockholders	$--	$62
Per share amount	$--	$0.01

	Nine Months Ended September 30,
	2013	2012
(In Thousands, Except Per Share Data)
Basic:
Average shares outstanding	13,634	13,533
Net income available to common stockholders	$24,621	$35,817
Per share amount	$1.81	$2.65
Income from continuing operations available to common stockholders	$24,621	$35,268
Per share amount	$1.81	$2.61
Income from discontinued operations available to common stockholders	$--	$549
Per share amount	$--	$0.04
Diluted:
Average shares outstanding	13,634	13,533
Net effect of dilutive stock options and warrants – based on the treasury
stock method using average market price	58	119
Diluted shares	13,692	13,652
Net income available to common stockholders	$24,621	$35,817
Per share amount	$1.80	$2.62
Income from continuing operations available to common stockholders	$24,621	$35,268
Per share amount	$1.80	$2.59
Income from discontinued operations available to common stockholders	$--	$549
Per share amount	$--	$0.03

Options to purchase 304,630 and 81,375 shares of common stock were outstanding at September 30, 2013 and 2012, respectively, but were not included in the computation of diluted earnings per share for each of the three month and nine month periods because the options’ exercise prices were greater than the average market prices of the common shares for the three and nine months ended September 30, 2013 and 2012, respectively.