NET INCOME PER COMMON SHARE

6 Months Ended

Jun. 30, 2014

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, 2014
Basic
Income available to common stockholders	$	14,688		15,468,511	$	0.94
Effect of stock options		—		363,669
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	14,688		15,832,180	$	0.92
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	$	0.82
Six Months Ended June 30, 2014
Basic
Income available to common stockholders	$	29,345		15,405,847	$	1.90
Effect of stock options		—		353,942
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	29,345		15,759,789	$	1.86
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

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, 2014		59,286	$	54.89
Three Months Ended June 30, 2013		466,159		39.76
Six Months Ended June 30, 2014		67,155		54.15
Six Months Ended June 30, 2013		475,867		39.69