EARNINGS PER COMMON SHARE

6 Months Ended

Jun. 30, 2011

EARNINGS PER COMMON SHARE

NOTE 17:  EARNINGS PER COMMON SHARE

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

	Three months ended				Six months ended
	June 30,				June 30,
(Dollars in thousands, except per share data)	2011		2010		2011		2010
Numerator for basic and diluted earnings per share -income available to common shareholders:
Net income	$	15,973	$	17,774	$	33,180	$	29,372
Dividends on preferred stock		0		0		0		1,865
Income available to common shareholders	$	15,973	$	17,774	$	33,180	$	27,507
Denominator for basic earnings per share - weighted average shares		57,694,792		57,539,901		57,642,970		56,356,877
Effect of dilutive securities —
Employee stock awards		945,250		944,176		974,958		893,621
Warrants		94,620		119,962		104,520		114,824
Denominator for diluted earnings per share - adjusted weighted average shares		58,734,662		58,604,039		58,722,448		57,365,322
Earnings per share available to common shareholders
Basic	$	0.28	$	0.31	$	0.58	$	0.49
Diluted	$	0.27	$	0.30	$	0.57	$	0.48

Stock options and warrants, where the exercise price was greater than the average market price of the common shares, were not included in the computation of net income per diluted share as they would have been antidilutive.  These out-of-the-money options were 434,976 and 320,963 at June 30, 2011 and 2010, respectively.  The warrants to purchase 465,117 shares of common stock were outstanding as of June 30, 2011 and 2010.