Earnings per Common Share |
Earnings per Share The following table reconciles the number of shares used in calculating the basic and diluted earnings per share for the quarters and nine months ended September 30: | | | | | | | | | | | | | | | | | | Quarter Ended | | Nine Months Ended | | September 30, | | September 30, | (Dollars in thousands, except per-share amounts) | 2012 | | 2011 | | 2012 | | 2011 | Net income | $ | 18,599 |
| | $ | 25,599 |
| | $ | 28,730 |
| | $ | 41,744 |
| | | | | | | | | Basic weighted-average shares outstanding | 40,356,512 |
| | 40,187,334 |
| | 40,316,957 |
| | 40,147,133 |
| Incremental shares due to: | | | | | | | | Stock options | 27,558 |
| | 44,147 |
| | 20,263 |
| | 54,048 |
| Performance shares | 119,400 |
| | 120,182 |
| | 102,000 |
| | 129,691 |
| Restricted stock units | 67,598 |
| | 28,639 |
| | 63,938 |
| | 29,005 |
| Diluted weighted-average shares outstanding | 40,571,068 |
| | 40,380,302 |
| | 40,503,158 |
| | 40,359,877 |
| | | | | | | | | Basic net income per share | $ | 0.46 |
| | $ | 0.64 |
| | $ | 0.71 |
| | $ | 1.04 |
| Diluted net income per share | $ | 0.46 |
| | $ | 0.63 |
| | $ | 0.71 |
| | $ | 1.03 |
| | | | | | | | | Anti-dilutive shares excluded from the calculation: | | | | | | | | Performance shares | — |
| | 77,767 |
| | — |
| | 77,767 |
| Restricted stock units | — |
| | — |
| | 1,000 |
| | 2,700 |
| Total anti-dilutive shares excluded from the calculation | — |
| | 77,767 |
| | 1,000 |
| | 80,467 |
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