Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

7. EARNINGS PER SHARE

Basic earnings per common share are computed by dividing income allocated to common stockholders by the weighted-average number of common shares outstanding during each period. The computation of diluted earnings per common share considers the number of tax-effected shares issuable upon the assumed exercise of outstanding common stock options. The table below shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations.

The table below presents the reconciliation of earnings per share for the periods indicated:

	For the Three Months Ended March 31,
	2013		2012
	(In thousands, except per share amounts)
Earnings per common share:
Net earnings	$	21,615	$	22,268
Less: Net earnings allocated to restricted stock		69		72
Net earnings allocated to common shareholders (numerator)	$	21,546	$	22,196
Weighted average shares outstanding (denominator)		104,564		104,303
Earnings per common share	$	0.21	$	0.21
Diluted earnings per common share:
Net income allocated to common shareholders (numerator)	$	21,546	$	22,196
Weighted average shares outstanding		104,564		104,303
Incremental shares from assumed exercise of outstanding options		246		197
Diluted weighted average shares outstanding (denominator)		104,810		104,500
Diluted earnings per common share	$	0.21	$	0.21