| EARNINGS PER COMMON SHARE |
NOTE 3 - EARNINGS PER COMMON SHARE
Basic earnings per common share are computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options and warrants.
| | | Three Months Ended June 30, | | Six Months Ended June 30, | | | | 2013 | | 2012 | | 2013 | | 2012 | | | | (In Thousands, Except Shares and Per Share Data) | | Earnings per common share | | | | | | | | | | | | | | Weighted average common shares outstanding | | | 6,944,900 | | | 5,981,218 | | | 6,618,129 | | | 5,971,630 | | Net income available to common stockholders | | $ | 9,586 | | $ | 8,231 | | $ | 18,737 | | $ | 16,387 | | Basic earnings per common share | | $ | 1.38 | | $ | 1.38 | | $ | 2.83 | | $ | 2.74 | | | | | | | | | | | | | | | | Weighted average common shares outstanding | | | 6,944,900 | | | 5,981,218 | | | 6,618,129 | | | 5,971,630 | | Dilutive effects of assumed conversions and
exercise of stock options and warrants | | | 273,542 | | | 952,346 | | | 529,736 | | | 952,087 | | Weighted average common and dilutive potential
common shares outstanding | | | 7,218,442 | | | 6,933,564 | | | 7,147,865 | | | 6,923,717 | | Net income available to common stockholders | | $ | 9,586 | | $ | 8,231 | | $ | 18,737 | | $ | 16,387 | | Effect of interest expense on convertible debt, net
of tax and discretionary expenditures related to
conversion | | | - | | | 142 | | | 115 | | | 283 | | Net income available to common stockholders,
adjusted for effect of debt conversion | | $ | 9,586 | | $ | 8,373 | | $ | 18,852 | | $ | 16,670 | | Diluted earnings per common share | | $ | 1.33 | | $ | 1.21 | | $ | 2.64 | | $ | 2.41 |
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