Earnings Per Share

3 Months Ended

Mar. 31, 2013

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,
	2013		2012
	(In thousands, except per share amounts)
Net income	$	15,326	$	13,493
Common stock – voting		36,774		35,276
Common stock – non-voting		—		1,658
Basic weighted average shares outstanding		36,774		36,934
Basic earnings per share	$	0.42	$	0.37
Weighted average shares outstanding		36,774		36,934
Dilutive effect of stock options and restricted stock		899		1,761
Diluted weighted average shares outstanding		37,673		38,695
Diluted earnings per share	$	0.41	$	0.35

Stock options and restricted stock totaling 482,716 shares and 302,364 shares for the three months ended March 31, 2013 and 2012, 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.