Note 9 - Earnings Per Common Share

Earnings per common share is computed using the two-class method. Basic earnings per common share is computed by dividing net earnings allocated to common stock by the weighted-average number of common shares outstanding during the applicable period, excluding outstanding participating securities. Participating securities include non-vested stock awards/stock units and deferred stock units, though no actual shares of common stock related to non-vested stock units and deferred stock units have been issued. Non-vested stock awards/stock units and deferred stock units are considered participating securities because holders of these securities receive non-forfeitable dividends at the same rate as holders of the Corporation's common stock. Diluted earnings per common share is computed using the weighted-average number of shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method.

The following table presents a reconciliation of the number of shares used in the calculation of basic and diluted earnings per common share.


	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Distributed earnings allocated to common stock	$	28,102	$	27,181	$	55,572	$	52,997
Undistributed earnings allocated to common stock		27,378		25,512		51,630		47,320

Net earnings allocated to common stock	$	55,480	$	52,693	$	107,202	$	100,317

Weighted-average shares outstanding for basic earnings per common share		61,093,641		60,365,085		61,056,113		60,169,736
Dilutive effect of stock compensation		297,075		198,599		306,404		195,676

Weighted-average shares outstanding for diluted earnings per common share		61,390,716		60,563,684		61,362,517		60,365,412