EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

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

	2013		2012			2011
	(Dollars in thousands)
Net income	$	50,254	$	42,627		$	45,436
	Weighted Average Shares
	(Shares in thousands)
Basic shares	23,012		21,782			21,423
Effect of dilutive securities	77		30			29
Diluted shares	23,089		21,812			21,452
Net income per share
Basic EPS	$	2.18	$	1.96		$	2.12
Effect of dilutive securities	—		(0.01		)	—
Diluted EPS	$	2.18	$	1.95		$	2.12

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
	2013	2012	2011
Stock options	124,608	584,938	824,224