Three Months Ended

Nine Months Ended

September 30,

2014

2013

2014

2013

(Dollars in thousands, except per share amounts)

Numerator

Net income

$

15,458

$

36,251

$

48,504

$

283,676

Less: distributed earnings allocated to participating securities

(48

)

-

(150

)

-

Less: undistributed earnings allocated to participating securities

(13

)

(294

)

(51

)

(2,609

)

Net income attributable to common stockholders (numerator for basic earnings per share)

15,397

35,957

48,303

281,067

Add back: undistributed earnings allocated to participating securities

13

294

51

2,609

Less: undistributed earnings reallocated to participating securities

(13

)

(293

)

(51

)

(2,586

)

Numerator for diluted earnings per share under two class method

$

15,397

$

35,958

$

48,303

$

281,090

Denominator

Weighted-average common shares outstanding

48,625,685

48,478,403

48,607,425

48,423,969

Add: dilutive effect of stock options

205,105

275,246

217,446

428,901

Denominator for diluted earnings per share under two class method

48,830,790

48,753,649

48,824,871

48,852,870

Basic Earnings Per Common Share

$

0.32

$

0.74

$

0.99

$

5.80

Diluted Earnings Per Common Share

$

0.32

$

0.74

$

0.99

$

5.75