Net Income Per Common Share

9 Months Ended

Sep. 30, 2011

Net Income Per Common Share [Abstract]

Net Income Per Common Share

(11) NET INCOME PER COMMON SHARE

Basic and diluted net income per common share are calculated as follows:

	Income (Numerator)		Shares (Denominator)		Per Share Amount
	(Dollars in thousands, except per share data)
Three Months Ended September 30, 2011
Basic
Income available to common stockholders	$	12,553		15,210,090	$	0.82
Effect of stock options		—		261,569
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	12,553		15,471,659	$	0.81
Three Months Ended September 30, 2010
Basic
Income available to common stockholders	$	11,787		15,356,366	$	0.77
Effect of stock options		—		288,720
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	11,787		15,645,086	$	0.75
Nine Months Ended September 30, 2011
Basic
Income available to common stockholders	$	34,023		15,316,218	$	2.22
Effect of stock options		—		286,905
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	34,023		15,603,123	$	2.18
Nine Months Ended September 30, 2010
Basic
Income available to common stockholders	$	32,132		15,340,087	$	2.09
Effect of stock options		—		302,467
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	32,132		15,642,554	$	2.05

The following table shows the number and average exercise prices of options that were excluded from the computation of diluted net income per share for each period because the options' exercise prices were greater than the average market price of the common shares:

	Shares		Average Exercise Price
Three Months Ended September 30, 2011		649,347	$	38.61
Three Months Ended September 30, 2010		435,570	$	38.21
Nine Months Ended September 30, 2011		535,781	$	38.86
Nine Months Ended September 30, 2010		415,075	$	39.77