EARNINGS PER COMMON SHARE

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

EARNINGS PER COMMON SHARE

NOTE 16:  EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per share:

	Three months ended				Six months ended
	June 30,				June 30,
(Dollars in thousands, except per share data)	2012		2011		2012		2011
Numerator for basic and diluted earnings per share -income available to common shareholders:
Net income	$	17,802	$	15,973	$	34,796	$	33,180
Dividends on preferred stock	0		0		0		0
Income available to common shareholders	$	17,802	$	15,973	$	34,796	$	33,180
Denominator for basic earnings per share - weighted average shares	57,933,281		57,694,792		57,864,269		57,642,970
Effect of dilutive securities —
Employee stock awards	915,301		945,250		936,550		974,958
Warrants	109,697		94,620		120,870		104,520
Denominator for diluted earnings per share - adjusted weighted average shares	58,958,279		58,734,662		58,921,689		58,722,448
Earnings per share available to common shareholders
Basic	$	0.31	$	0.28	$	0.60	$	0.58
Diluted	$	0.30	$	0.27	$	0.59	$	0.57

Stock options and warrants, where the exercise price was greater than the average market price of the common shares, were not included in the computation of net income per diluted share as they would have been antidilutive.  These out-of-the-money options were 737,228 and 434,976 at June 30, 2012 and 2011, respectively.  

Warrants to purchase 465,117 shares of the Company's common stock were outstanding as of June 30, 2012 and 2011. These warrants, each representing the right to purchase one share of common stock, no par value per share, have an exercise price of $12.54 and expire on December 23, 2018.