NOTE 15 - EARNINGS PER SHARE

The factors used in the earnings per share computation follow:

	2011		2010		2009
Basic
Net income available to common shareholders	$	15,517	$	9,425	$	6,968

Weighted average common shares outstanding		7,432,693		5,858,619		5,615,458

Basic earnings per common share	$	2.09	$	1.61	$	1.24

Diluted
Net income available to common shareholders	$	15,517	$	9,425	$	6,968

Weighted average common shares outstanding for basic earnings per common share		7,432,693		5,858,619		5,615,458
Add: Dilutive effects of assumed exercises of stock options		4,741		-		5,541
Add: Dilutive effects of assumed exercise of stock warrant		40,768		-		37,157

Average shares and dilutive potential common shares		7,478,202		5,858,619		5,658,156

Diluted earnings per common share	$	2.07	$	1.61	$	1.23

Stock options for 378,950, 523,730, and 564,685 shares of common stock were not considered in computing diluted earnings per common share for 2011, 2010 and 2009 because they were anti-dilutive. Also, a warrant to purchase 274,784 shares of common stock were considered in computing diluted earnings per common share for 2011, but not in 2010 because they were anti-dilutive.