Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

11. Earnings Per Share

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

	Year Ended December 31,
	2012			2011			2010
	(In thousands, except per share amounts)
Basic EPS
Net income	$	60,069		$	47,704		$	31,428
Amount allocable to common shareholders		100.0	%		100.0	%		90.5	%
Net income applicable to common stock	$	60,069		$	47,704		$	28,427
Common stock—voting		36,101			34,420			30,573
Common stock—non-voting		415			2,586			2,586
Basic weighted average shares outstanding		36,516			37,006			33,159
Basic earnings per share	$	1.65		$	1.29		$	0.86
Diluted EPS
Net income	$	60,069		$	47,704		$	31,428
Basic weighted average shares outstanding		36,516			37,006			33,159
Effect of dilutive shares:
Series B Preferred Stock		—			—			3,500
Stock options, restricted stock and warrants		1,300			2,602			2,392
Diluted weighted average shares outstanding		37,816			39,608			39,051
Diluted earnings per share	$	1.59		$	1.20		$	0.80

Stock options, restricted stock and warrants totaling 0.1 million shares, 0.3 million shares and 0.4 million shares for the years ended December 31, 2012, 2011 and 2010, 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.