Net Income Per Common Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Net Income Per Common Share

Net Income Per Common Share

(In Thousands, Except Share Data)

Basic net income per common share is calculated by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per common share reflects the pro forma dilution of shares outstanding assuming outstanding stock options were exercised into common shares, calculated in accordance with the treasury method. Basic and diluted net income per common share calculations are as follows for the periods presented:

	Three Months Ended
	March 31,
	2014		2013
Basic
Net income applicable to common stock	$	13,597	$	7,571
Average common shares outstanding	31,436,148		25,186,229
Net income per common share - basic	$	0.43	$	0.30
Diluted
Net income applicable to common stock	$	13,597	$	7,571
Average common shares outstanding	31,436,148		25,186,229
Effect of dilutive stock-based compensation	232,214		102,556
Average common shares outstanding - diluted	31,668,362		25,288,785
Net income per common share - diluted	$	0.43	$	0.30

Stock options that could potentially dilute basic net income per common share in the future that were not included in the computation of diluted net income per common share due to their anti-dilutive effect were as follows for the periods presented:

	Three Months Ended
	March 31,
	2014	2013
Number of shares	107,396	488,824
Range of exercise prices	$17.63 - $29.67	$19.14 - $30.63