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Earnings Per Common Share (Tables)
6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Summary of Earnings Per Common Share

Earnings per common share are calculated as follows:

 

     For the Three Months Ended
June 30,
     For the Six Months Ended
June 30,
 

(unaudited, in thousands, except shares and per share amounts)

   2014      2013      2014      2013  

Numerator for both basic and diluted earnings per common share:

           

Net income

   $ 18,875       $ 17,017      $ 35,296       $ 33,037   
  

 

 

    

 

 

    

 

 

    

 

 

 

Denominator:

           

Total average basic common shares outstanding

     29,242,180         29,245,201        29,212,347         29,228,355   

Effect of dilutive stock options and warrant

     79,747         63,605        81,077         59,663   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total diluted average common shares outstanding

     29,321,927         29,308,806        29,293,424         29,288,018   
  

 

 

    

 

 

    

 

 

    

 

 

 

Earnings per common share - basic

   $ 0.65       $ 0.58      $ 1.21       $ 1.13   

Earnings per common share - diluted

   $ 0.64       $ 0.58      $ 1.20       $ 1.13