Net Income Per Common Share

12 Months Ended

Dec. 31, 2011

Net Income Per Common Share [Abstract]

Net Income Per Common Share

(16) 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)
Year Ended December 31, 2011
Basic
Income available to common stockholders	$	45,621		15,267,357	$	2.99
Effect of stock options		—		282,774
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	45,621		15,550,131	$	2.93
Year Ended December 31, 2010
Basic
Income available to common stockholders	$	42,309		15,348,102	$	2.76
Effect of stock options		—		303,210
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	42,309		15,651,312	$	2.70
Year Ended December 31, 2009
Basic
Income available to common stockholders	$	32,609		15,299,781	$	2.13
Effect of stock options		—		294,008
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	32,609		15,593,789	$	2.09

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

	Shares		Average Exercise Price
December 31, 2011		550,495	$	38.85
December 31, 2010		420,679	$	38.31
December 31, 2009		304,292	$	43.01