Earnings Per Share

9 Months Ended

Sep. 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			Nine Months ended
(Dollars in thousands, except per share data)	September 30, 2013		September 30, 2012	September 30, 2013	September 30, 2012
Net income available to common stockholders, basic and diluted	$	25,628	19,444	69,098	54,758
Average outstanding shares - basic	73,945,523		71,933,141	72,804,321	71,925,664
Add: dilutive stock options and awards	76,348		40,844	65,154	97
Average outstanding shares - diluted	74,021,871		71,973,985	72,869,475	71,925,761
Basic earnings per share	$	0.35	0.27	0.95	0.76
Diluted earnings per share	$	0.35	0.27	0.95	0.76

There were 49,932 and 903,945 options excluded from the diluted average outstanding share calculation for the nine months ended September 30, 2013 and 2012, respectively, due to the option exercise price exceeding the market price of the Company’s common stock.