NOTE 12. EARNINGS PER SHARE

Basic earnings per common share are based on the weighted average number of common shares outstanding during the reporting period. Diluted earnings per common share assume the exercise of stock options and vesting of restricted shares using the treasury stock method, to the extent dilutive.

The following table summarizes the average number of common shares and the net income used in the calculation of basic and diluted earnings per share (in thousands, except share and per share amounts):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2011		2010		2011		2010

Income from continuing operations	$	23,906	$	15,943	$	39,471	$	30,441
Discontinued operations		1,211		3,246		4,739		4,691

Net income available to common stockholders	$	25,117	$	19,189	$	44,210	$	35,132

BASIC:
Weighted average common shares outstanding	27,708,136		27,665,629		27,702,432		27,649,003

Income from continuing operations per common share	$	.86	$	.57	$	1.42	$	1.10
Discontinued operations per common share		.04		.12		.17		.17
Net income per common share	$	.90	$	.69	$	1.59	$	1.27

DILUTED:
Weighted average common shares outstanding	27,708,136		27,665,629		27,702,432		27,649,003
Stock options		90,145		60,625		93,690		53,179
Restricted shares		1,335		2,780		1,741		3,075
Weighted average dilutive common shares outstanding	27,799,616		27,729,034		27,797,863		27,705,257

Income from continuing operations per common share	$	.86	$	.57	$	1.42	$	1.10
Discontinued operations per common share		.04		.12		.17		.17
Net income per common share	$	.90	$	.69	$	1.59	$	1.27

Incremental shares excluded since anti-dilutive:
Stock options		23,123		1,764		9,735		3,057