Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Note 7. 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:

	Three Months ended			Six Months ended
(Dollars in thousands, except per share data)	June 30, 2013		June 30, 2012	June 30, 2013		June 30, 2012
Net income available to common stockholders, basic and diluted	$	22,702	18,981	$	43,470	35,314
Average outstanding shares - basic	72,480,019		71,928,697	72,224,263		71,921,885
Add: dilutive stock options and awards	68,153		156	57,841		105
Average outstanding shares - diluted	72,548,172		71,928,853	72,282,104		71,921,990
Basic earnings per share	$	0.31	0.26	$	0.60	0.49
Diluted earnings per share	$	0.31	0.26	$	0.60	0.49

There were 74,159 and 945,063 options excluded from the diluted average outstanding share calculation for the six months ended June 30, 2013 and 2012, respectively, due to the option exercise price exceeding the market price of the Company’s common stock.