Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER COMMON SHARE (Tables)

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EARNINGS PER COMMON SHARE (Tables)
6 Months Ended
Jun. 30, 2012
Basic And Diluted Earning Per 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.

 

 

    Three Months Ended June 30,     Six Months Ended June 30,  
    2012     2011     2012     2011  
    (In Thousands, Except Shares and Per Share Data)  
Earnings per common share                                
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