Earnings Per Common Share

3 Months Ended

Mar. 31, 2012

Earnings Per Common Share [Abstract]

Earnings Per Common Share

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 March 31,
	2012		2011
Distributed earnings allocated to common stock	$	28,152	$	27,470
Undistributed earnings allocated to common stock		32,691		24,252
Net earnings allocated to common stock	$	60,843	$	51,722
Weighted-average shares outstanding for basic earnings per common share		61,200,627		61,018,169
Dilutive effect of stock compensation		332,674		316,295
Weighted-average shares outstanding for diluted earnings per common share		61,533,301		61,334,464