EX-11 2 ex11.htm EXHIBIT 11 ex11.htm
 
Exhibit 11
Statement re Computation of Per Share Earnings
 
The composition of basic and diluted earnings per share was as follows for the years ended December 31:
 
   
2012
    
2011
    
2010
  
Net income available to common stockholders
   $ 34,304     $ 34,509     $ 23,094  
                         
Weighted average number of common shares outstanding
     41,366,860       40,708,552       36,526,105  
Effect of warrants
     -       -       610,866  
Effect of stock options
     140,800       178,141       51,357  
Weighted average diluted number of common shares outstanding
     41,507,660       40,886,693       37,188,328  
                         
Basic earnings per share
   $ 0.83     $ 0.85     $ 0.63  
Diluted earnings per share
   $ 0.83     $ 0.84     $ 0.62