Earnings per Share

6 Months Ended

Jun. 30, 2011

Earnings per Share

Earnings per Share

7. Earnings per Share

The following table sets forth the computation of basic and diluted earnings per common share:

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
	(in thousands, except per share amounts)
Numerator for basic and diluted earnings per share:
Net income	$	8,160	$	1,734	$	8,176	$	1,943
Denominator for basic earnings per share:
Weighted average common shares outstanding		18,829		17,084		18,824		17,079
Dilutive effect of stock options on weighted average common shares		116		47		112		34
Denominator for diluted earnings per share		18,945		17,131		18,936		17,113
Basic and diluted earnings per share	$	0.43	$	0.10	$	0.43	$	0.11

The potential common shares excluded from the calculation of diluted earnings per share totaled 61,000 and 105,000 for the three month periods ended June 30, 2011 and 2010, respectively, and 52,000 and 69,000 for the six month periods ended June 30, 2011 and 2010, respectively, because their effect would be anti-dilutive.