Three Months Ended

Six Months Ended

June 30,

2014

2013

2014

2013

(Dollars in thousands, except per share amounts)

Numerator

Net income

$

21,542

$

224,909

$

33,046

$

247,425

Less: distributed earnings allocated to participating securities

(49

)

-

(101

)

-

Less: undistributed earnings allocated to participating securities

(37

)

(2,069

)

(39

)

(2,310

)

Net income attributable to common stockholders (numerator for basic earnings per share)

21,456

222,840

32,906

245,115

Add back: undistributed earnings allocated to participating securities

37

2,069

39

2,310

Less: undistributed earnings reallocated to participating securities

(37

)

(2,049

)

(38

)

(2,286

)

Numerator for diluted earnings per share under two class method

$

21,456

$

222,860

$

32,907

$

245,139

Denominator

Weighted-average common shares outstanding

48,640,979

48,478,076

48,613,521

48,410,486

Add: dilutive effect of stock options

211,717

467,979

229,006

506,502

Denominator for diluted earnings per share under two class method

48,852,696

48,946,055

48,842,527

48,916,988

Basic Earnings Per Common Share

$

0.44

$

4.60

$

0.68

$

5.06

Diluted Earnings Per Common Share

$

0.44

$

4.55

$

0.67

$

5.01