The following table is the reconciliation of basic and fully diluted earnings per share for the years ended December 31, 2011, 2010 and 2009 (dollars in thousands except per share amounts):

	2011				2010				2009

	Basic		Fully Diluted		Basic		Fully Diluted		Basic		Fully Diluted
Net income	$	27,600	$	27,600	$	26,872	$	26,872	$	19,200	$	19,200

Weighted average shares outstanding		58,633,627		58,633,627		58,578,599		58,578,599		58,370,569		58,370,569
Effect of dilutive securities		—		2,804		—		4,586		—		36,898

Adjusted weighted average shares outstanding		58,633,627		58,636,431		58,578,599		58,583,185		58,370,569		58,407,467

Earning per share	$	0.47	$	0.47	$	0.46	$	0.46	$	0.33	$	0.33