Earnings Per Share

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(In thousands, except per share amounts)
Net income	$	12,629	$	11,937	$	26,122	$	22,717
Common stock - voting		36,128		34,176		35,702		34,049
Common stock - non-voting		—		2,586		829		2,586
Basic weighted average shares outstanding		36,128		36,762		36,531		36,635
Basic earnings per share	$	0.35	$	0.32	$	0.72	$	0.62
Weighted average shares outstanding		36,128		36,762		36,531		36,635
Effect of dilutive shares:
Stock options and restricted stock		1,312		2,329		1,536		2,376
Warrants		—		399		—		385
Diluted weighted average shares outstanding		37,440		39,490		38,067		39,396
Diluted earnings per share	$	0.34	$	0.30	$	0.69	$	0.58

Stock options and restricted stock totaling zero and 0.3 million shares for the three months ended June 30, 2012 and 2011, respectively, and 0.2 million shares and 0.3 million shares for the six months ended June 30, 2012 and 2011, respectively, 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.