Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note 15. Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period presented. Diluted earnings per share is computed by including the net increase in shares as if dilutive outstanding stock options were exercised, using the treasury stock method.

Basic and diluted earnings per share has been computed based on the following:

	Years ended
(Dollars in thousands, except per share data)	December 31, 2012		December 31, 2011	December 31, 2010
Net income available to common stockholders, basic and diluted	$	75,516	17,471	42,330
Average outstanding shares - basic	71,928,570		71,915,073	69,657,980
Add: dilutive stock options and awards	86		—	2,365
Average outstanding shares - diluted	71,928,656		71,915,073	69,660,345
Basic earnings per share	$	1.05	0.24	0.61
Diluted earnings per share	$	1.05	0.24	0.61

Note 15. Earnings Per Share (continued)

There were 879,525, 1,567,561 and 2,295,424 options excluded from the diluted average outstanding share calculation for December 31, 2012, 2011, and 2010, respectively, due to the option exercise price exceeding the market price of the Company’s common stock.