Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Earnings per share consisted of the following components for the periods indicated:

	Three Months Ended					Nine Months Ended
	September 30					September 30
	2013		2012			2013		2012
	(Dollars in thousands, except per share data)
Net income	$	14,655	$	11,601		$	39,665	$	32,658
Weighted Average Shares
Basic shares	22,946,308		21,654,188			22,886,521		21,613
Effect of diluted securities	100,806		52,116			72,799		31
Dilutive shares	23,047,114		21,706,304			22,959,320		21,644
Net income per share
Basic EPS	$	0.64	$	0.54		$	1.73	$	1.51
Effect of diluted securities	—		(0.01		)	—		—
Dilutive EPS	$	0.64	$	0.53		$	1.73	$	1.51

The following table illustrates the options to purchase common stock that were excluded from the calculation of diluted earnings per share because they were anti-dilutive:

	Three Months Ended		Nine Months Ended
	September 30		September 30
	2013	2012	2013	2012
Stock options	—	357,459	125,241	614,181