Basic and Diluted Net Income Per Common Share |
Basic and
diluted net income per common share are calculated as
follows:
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Income
(Numerator) |
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Shares
(Denominator) |
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Per
Share
Amount |
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(Dollars in thousands, except per share data) |
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Three Months Ended
June 30, 2013
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Basic
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Income available to common
stockholders
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$ |
12,593 |
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15,232,129 |
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$ |
0.83 |
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Effect of stock
options
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— |
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247,620 |
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Diluted
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Income available to common
stockholders plus assumed exercises of stock options
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$ |
12,593 |
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15,479,749 |
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$ |
0.81 |
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Three Months Ended
June 30, 2012
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Basic
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Income available to common
stockholders
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$ |
11,729 |
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15,155,525 |
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$ |
0.77 |
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Effect of stock
options
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— |
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271,271 |
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Diluted
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Income available to common
stockholders plus assumed exercises of stock options
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$ |
11,729 |
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15,426,796 |
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$ |
0.76 |
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Six Months Ended
June 30, 2013
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Basic
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Income available to common
stockholders
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$ |
25,965 |
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15,235,397 |
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$ |
1.70 |
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Effect of stock
options
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— |
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246,473 |
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Diluted
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Income available to common
stockholders plus assumed exercises of stock options
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$ |
25,965 |
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15,481,870 |
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$ |
1.68 |
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Six Months Ended
June 30, 2012
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Basic
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Income available to common
stockholders
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$ |
25,734 |
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15,145,066 |
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$ |
1.70 |
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Effect of stock
options
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— |
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276,608 |
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Diluted
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Income available to common
stockholders plus assumed exercises of stock options
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$ |
25,734 |
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15,421,674 |
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$ |
1.67 |
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Average Exercise Price of Options Excluded from Computation of Diluted Net Income Per Common Share |
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:
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Shares |
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Average
Exercise
Price |
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Three Months Ended
June 30, 2013
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466,159 |
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$ |
39.76 |
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Three Months Ended
June 30, 2012
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607,200 |
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$ |
38.70 |
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Six Months Ended
June 30, 2013
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475,867 |
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$ |
39.69 |
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Six Months Ended
June 30, 2012
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607,200 |
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$ |
38.70 |
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