Net Income per Common Share

6 Months Ended

Jun. 30, 2011

Net Income per Common Share

Net Income per Common Share

5. Net Income per Common Share

The calculation of net income per common share for the six and three months ended June 30, 2011 and 2010 was as follows.

	Six Months Ended				Three Months Ended
	June 30,				June 30,
(dollars and shares in thousands)	2011		2010		2011		2010
Basic:
Net income available to common shareholders	$	9,687	$	6,194	$	4,871	$	3,123
Average common shares outstanding	19,775		19,625		20,051		19,641
Basic net income per common share	$	0.49	$	0.32	$	0.25	$	0.16
Diluted:
Net income available to common shareholders	$	9,687	$	6,194	$	4,871	$	3,123
Average common shares outstanding	19,775		19,625		20,051		19,641
Adjustment for common share equivalents	468		381		444		431
Average common shares outstanding-diluted	20,243		20,006		20,495		20,072
Diluted net income per common share	$	0.48	$	0.31	$	0.24	$	0.16
Anti-dilutive shares	198,043		337,324		198,124		336,224