Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share

11. Earnings Per Share

Earnings per share have been computed using the weighted average number of ordinary shares and ordinary share equivalents outstanding during the period.

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

(Dollars in thousands,	Quarters Ended June 30,				Six Months Ended June 30,
except share and per share data)	2013		2012		2013		2012
Net income	$	8,664	$	9,604	$	21,029	$	20,466
Basic earnings per share:
Weighted average shares outstanding - basic		25,049,888		27,829,555		25,052,488		28,223,321
Net income per share	$	0.35	$	0.35	$	0.84	$	0.73
Diluted earnings per share:
Weighted average shares outstanding - diluted		25,119,035		27,836,453		25,120,897		28,236,562
Net income per share	$	0.34	$	0.35	$	0.84	$	0.72

A reconciliation of weighted average shares for basic earnings per share to weighted average shares for diluted earnings per share is as follows:

	Quarters Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Weighted average shares for basic earnings per share		25,049,888		27,829,555		25,052,488		28,223,321
Non-vested restricted stock		33,178		6,880		38,759		13,223
Options		35,969		18		29,650		18
Weighted average shares for diluted earnings per share		25,119,035		27,836,453		25,120,897		28,236,562

The weighted average shares outstanding used to determine dilutive earnings per share for the quarters ended June 30, 2013 and 2012 do not include 145,450 and 565,775 shares, respectively, which were deemed to be anti-dilutive. The weighted average shares outstanding used to determine dilutive earnings per share for the six months ended June 30, 2013 and 2012 do not include 145,450 and 565,775 shares, respectively, which were deemed to be anti-dilutive.