EARNINGS PER SHARE (EPS) (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Calculation of Numerator and Denominator in Earnings Per Share

The following is a reconciliation of the numerators and denominators of basic EPS and diluted EPS for the periods presented:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Numerator:
Net Income per the Consolidated Statements of Operations	$	11,795	$	11,164	$	33,573	$	34,582
Denominator:
Weighted-average number of shares outstanding utilized in the calculation of basic EPS		34,408,801		33,831,618		34,212,431		33,666,202
Common stock equivalents resulting from the dilutive effect of "in-the-money" outstanding stock options, net of the effect of tax benefits		89,016		49,705		75,348		117,206
Weighted average number of shares outstanding utilized in the calculation of diluted EPS		34,497,817		33,881,323		34,287,779		33,783,408

Common stock equivalents resulting from the dilutive effect of "in-the-money" outstanding stock options are calculated based upon the excess of the average market value of the Holding Company's common stock over the exercise price of outstanding in-the-money stock options during the period.

There were 1,330,792 and 2,746,738 weighted-average stock options outstanding for the three-month periods ended September 30, 2012 and 2011, respectively, that were not considered in the calculation of diluted EPS since their exercise prices exceeded the average market price during the period. There were 1,323,076 and 1,245,159 weighted-average stock options outstanding for the nine-month periods ended September 30, 2012 and 2011, respectively, that were not considered in the calculation of diluted EPS since their exercise prices exceeded the average market price during the period.