EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Earnings per share consisted of the following components for the years ended December 31:

	2012		2011		2010
	(Dollars in thousands)
Net income	$	42,627	$	45,436	$	40,240
	Weighted Average Shares
	(Shares in thousands)
Basic shares	21,782		21,423		21,178
Effect of dilutive securities	30		29		26
Diluted shares	21,812		21,452		21,204
Net income per share
Basic EPS	$	1.96	$	2.12	$	1.90
Effect of dilutive securities	0.01		—		—
Diluted EPS	$	1.95	$	2.12	$	1.90

The following table illustrates the options to purchase common stock that were excluded from the calculation of diluted earnings per share because they were anti-dilutive:

	December 31
	2012	2011	2010
Stock options	584,938	824,225	790,140