NET INCOME PER COMMON SHARE

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

NET INCOME PER COMMON SHARE

(8) 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 June 30, 2013
Basic
Income available to common stockholders	$	12,593		15,232,129	$	0.83
Effect of stock options		—		247,620
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	12,593		15,479,749	$	0.81
Three Months Ended June 30, 2012
Basic
Income available to common stockholders	$	11,729		15,155,525	$	0.77
Effect of stock options		—		271,271
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	11,729		15,426,796	$	0.76
Six Months Ended June 30, 2013
Basic
Income available to common stockholders	$	25,965		15,235,397	$	1.70
Effect of stock options		—		246,473
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	25,965		15,481,870	$	1.68
Six Months Ended June 30, 2012
Basic
Income available to common stockholders	$	25,734		15,145,066	$	1.70
Effect of stock options		—		276,608
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	25,734		15,421,674	$	1.67

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 period because the options’ exercise prices were greater than the average market price of the common shares:

	Shares		Average Exercise  Price
Three Months Ended June 30, 2013		466,159	$	39.76
Three Months Ended June 30, 2012		607,200	$	38.70
Six Months Ended June 30, 2013		475,867	$	39.69
Six Months Ended June 30, 2012		607,200	$	38.70