EARNINGS PER COMMON SHARE

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Common Share

EARNINGS PER COMMON SHARE

The following table illustrates the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2012 and 2011 (in thousands, except share and per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Numerator
Net income	$	5,226	$	2,344	$	15,554	$	5,678
Denominator
Basic weighted average common shares	37,178,162		32,986,657		37,121,384		27,797,411
Dilutive stock options and restricted stock units	286,952		62,964		154,629		94,279
Diluted weighted average common shares	37,465,114		33,049,621		37,276,013		27,891,690
Basic earnings per common share	$	0.14	$	0.07	$	0.42	$	0.20
Diluted earnings per common share	$	0.14	$	0.07	$	0.42	$	0.20

Certain of the Company’s restricted stock units are considered participating securities which require the use of the two-class method when computing basic and diluted earnings per share. During the three months ended September 30, 2012, there were no anti-dilutive restricted stock units and options to purchase approximately 6,000 shares were not included because they were anti-dilutive. During the nine months ended September 30, 2012, approximately 5,000 restricted stock units were not included because they were anti-dilutive and no in-the-money stock options were considered anti-dilutive. During the three months ended September 30, 2011, approximately 42,000 restricted stock units were not included because they were anti-dilutive and no in-the-money stock options were considered anti-dilutive. During the nine months ended September 30, 2011, there were no anti-dilutive restricted stock units and no in-the-money stock options were considered anti-dilutive.