| 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, as well as
the potential common shares issuable upon possible conversion of
the preferred securities described in Note 11 to the consolidated
financial statements.
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|
Three Months Ended June 30, |
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|
Six Months Ended June 30, |
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| |
|
2012 |
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|
2011 |
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|
2012 |
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|
2011 |
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|
(In Thousands, Except Shares and Per Share Data) |
|
| Earnings per common share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Weighted average common shares outstanding |
|
|
5,981,218 |
|
|
|
5,708,871 |
|
|
|
5,971,630 |
|
|
|
5,694,871 |
|
|
Net income available to common stockholders |
|
$ |
8,231 |
|
|
$ |
5,845 |
|
|
$ |
16,387 |
|
|
$ |
10,716 |
|
|
Basic earnings per common share |
|
$ |
1.38 |
|
|
$ |
1.02 |
|
|
$ |
2.74 |
|
|
$ |
1.88 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted
average common shares outstanding |
|
|
5,981,218 |
|
|
|
5,708,871 |
|
|
|
5,971,630 |
|
|
|
5,694,871 |
|
|
Dilutive effects of assumed conversions and exercise of stock
options and warrants |
|
|
952,346 |
|
|
|
997,082 |
|
|
|
952,087 |
|
|
|
962,488 |
|
|
Weighted average common and dilutive potential common shares
outstanding |
|
|
6,933,564 |
|
|
|
6,705,953 |
|
|
|
6,923,717 |
|
|
|
6,657,359 |
|
|
Net income available to common stockholders |
|
$ |
8,231 |
|
|
$ |
5,845 |
|
|
$ |
16,387 |
|
|
$ |
10,716 |
|
|
Effect of interest expense on covertible debt, net of tax and
discretionary expenditures related to conversion |
|
|
142 |
|
|
|
148 |
|
|
|
283 |
|
|
|
294 |
|
|
Net income available to common stockholders, adjusted for effect of
debt conversion |
|
$ |
8,373 |
|
|
$ |
5,993 |
|
|
$ |
16,670 |
|
|
$ |
11,010 |
|
|
Diluted earnings per common share |
|
$ |
1.21 |
|
|
$ |
0.89 |
|
|
$ |
2.41 |
|
|
$ |
1.65 |
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