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Earnings Per Common Share (EPS)
 12 Months Ended
Dec. 31, 2011
Earnings Per Share, Basic and Diluted [Abstract]  
Earnings Per Common Share (EPS)
EARNINGS PER COMMON SHARE (EPS)

The computation of weighted average shares outstanding and the basic and diluted earnings per common share for the following periods consisted of the following (in thousands, except per share amounts):

 
Net
Income
 
Shares
 
Per Share
Amount
 
 
 
 
 
 
Year ended December 31, 2011:
 

 
 

 
 

Basic EPS
$
23,044

 
39,086

 
$
0.59

Effect of dilutive stock options and warrants
 

 
647

 
 

 
 
 
 
 
 
Diluted EPS
$
23,044

 
39,733

 
$
0.58

 
 
 
 
 
 
Year ended December 31, 2010:
 

 
 

 
 

Basic EPS
$
12,460

 
35,290

 
$
0.35

Effect of dilutive stock options and warrants
 

 
686

 
 

 
 
 
 
 
 
Diluted EPS
$
12,460

 
35,976

 
$
0.35

 
 
 
 
 
 
Year ended December 31, 2009:
 

 
 

 
 

Basic EPS
$
22,530

 
35,014

 
$
0.64

Effect of dilutive stock options and warrants
 

 
744

 
 

 
 
 
 
 
 
Diluted EPS
$
22,530

 
35,758

 
$
0.63



For the years ended December 31, 2011, 2010 and 2009, approximately 909,000, 878,000 and 681,000, respectively, of stock options were not included in the computation of diluted earnings per share because their effect would have been anti-dilutive.