EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

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

	2014			2013		2012
	(Dollars in thousands)
Net income	$	59,845		$	50,254	$	42,627
	Weighted Average Shares
Basic shares	23,899,562			23,011,814		21,782,499
Effect of dilutive securities	93,815			76,764		29,817
Diluted shares	23,993,377			23,088,578		21,812,316
Net income per share
Basic EPS	$	2.50		$	2.18	$	1.96
Effect of dilutive securities	(0.01		)	—		(0.01		)
Diluted EPS	$	2.49		$	2.18	$	1.95

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

	December 31
	2014	2013	2012
Stock options	—	124,608	584,938
Performance-based restricted stock	—	—	—