Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

9. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per common share.

	Three Months Ended March 31,
	2012		2011
	(In thousands, except per share amounts)
Net income	$	13,493	$	10,780
Common stock - voting		35,276		33,921
Common stock - non-voting		1,658		2,586
Basic weighted average shares outstanding		36,934		36,507
Basic earnings per share	$	0.37	$	0.30
Weight average shares outstanding		36,934		36,507
Effect of dilutive shares:
Stock options and restricted stock		1,761		2,422
Warrants		—		372
Diluted weighted average shares outstanding		38,695		39,301
Diluted earnings per share	$	0.35	$	0.27

Stock options, restricted stock and warrants totaling 0.3 million shares for both the three months ended March 31, 2012 and 2011 were excluded from the computation of diluted earnings per share because their effect would have been antidilutive. The computation of diluted shares can vary among periods due, in part, to the change in the average price of the Company’s common stock.