Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Schedule of computation of EPS Basic and Diluted Table Text Block

Earnings per share in the table below, for the three month periods ending March 31, 2015 and 2014 are calculated under the two-class method as required by ASC Topic 260, Earnings Per Share. ASC 260 provides that unvested share-based payment awards that contain nonforfeitable rights to dividends are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. The Company has issued restricted stock awards that contain such rights and are therefore considered participating securities. Basic earnings per common share are calculated by dividing net income allocable to common stock by the weighted average number of common shares, excluding participating securities, during the period. Diluted earnings per common share include the dilutive effect of additional potential shares from stock compensations awards.

		Three Months Ended
(in thousands, except share and per share data)		03/31/2015			03/31/2014
Basic
Net income available to common shareholders	$	12,680		$	12,569
Less: dividends and undistributed earnings allocated to unvested restricted stock awards		(182	)		(117	)
Net earnings allocated to common shareholders		12,498			12,452
Weighted average shares outstanding, including participating securities		14,920,648			14,781,394
Less: average participating securities		(219,251	)		(136,846	)
Weighted average shares outstanding - Basic		14,701,397			14,644,548
Diluted
Net earnings allocated to common shareholders		12,498			12,452
Weighted average shares outstanding - Basic		14,701,397			14,644,548
Dilutive effect of common stock options or restricted stock awards		136,538			130,838
Weighted average shares outstanding - Diluted		14,837,935			14,775,386
Basic EPS		0.85			0.85
Diluted EPS		0.84			0.84