Earnings Per Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The following table presents a summary of per common share data and amounts for the periods indicated.

	Years ended December 31,
(in thousands, except per share data)	2013		2012			2011
Net income as reported	$	33,104	$	28,296		$	25,423
Preferred stock dividend	—		(1,488		)	(1,750		)
Accretion of preferred stock discount	—		(1,707		)	(774		)
Net income available to common shareholders	$	33,104	$	25,101		$	22,899
Impact of assumed conversions
Interest on 9% convertible trust preferred securities, net of income tax	1,015		1,485			1,485
Net income available to common shareholders and assumed conversions	$	34,119	$	26,586		$	24,384
Weighted average common shares outstanding	18,582		17,859			16,683
Incremental shares from assumed conversions of convertible trust preferred securities	1,001		1,439			1,439
Additional dilutive common stock equivalents	168		40			23
Weighted average diluted common shares outstanding	19,751		19,338			18,145
Basic earnings per common share:	$	1.78	$	1.41		$	1.37
Diluted earnings per common share:	$	1.73	$	1.37		$	1.34

There were 517,694 common stock equivalents for fiscal year 2013; 1.0 million common stock equivalents (including 324,074 common stock warrants) for fiscal year 2012; and 899,493 common stock equivalents (including 324,074 common stock warrants) for fiscal year 2011, which were excluded from the earnings per share calculations because their effect was anti-dilutive.