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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2013
Earnings Per Share  
Schedule of reconciliation of the number of shares used in the calculation of basic and diluted earnings per common share

 

 

 

 

Three Months Ended

 

 

 

March 31

 

(Dollars in thousands - except per share amounts)

 

2013

 

2012

 

Distributed earnings allocated to common stock

 

$

4,143

 

$

3,891

 

Undistributed earnings allocated to common stock

 

8,101

 

7,651

 

Net earnings allocated to common stock

 

12,244

 

11,542

 

Net earnings allocated to participating securities

 

160

 

173

 

Net income allocated to common stock and participating securities

 

$

12,404

 

$

11,715

 

 

 

 

 

 

 

Weighted average shares outstanding for basic earnings per common share

 

24,321,985

 

24,259,416

 

Dilutive effect of stock compensation

 

2,343

 

11,450

 

Weighted average shares outstanding for diluted earnings per common share

 

24,324,328

 

24,270,866

 

 

 

 

 

 

 

Basic earnings per common share

 

$

0.50

 

$

0.48

 

Diluted earnings per common share

 

$

0.50

 

$

0.48