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Net Income Per Common Share
12 Months Ended
Dec. 31, 2012
Net Income Per Common Share [Abstract]  
NET INCOME PER COMMON SHARE

(16) 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)  

Year Ended December 31, 2012

                       

Basic

                       

Income available to common stockholders

  $ 51,900       15,172,457     $ 3.42  
                   

 

 

 

Effect of stock options

    —         271,188          
   

 

 

   

 

 

         

Diluted

                       

Income available to common stockholders plus assumed exercises of stock options

  $ 51,900       15,443,645     $ 3.36  
   

 

 

   

 

 

   

 

 

 

Year Ended December 31, 2011

                       

Basic

                       

Income available to common stockholders

  $ 45,621       15,267,357     $ 2.99  
                   

 

 

 

Effect of stock options

    —         282,774          
   

 

 

   

 

 

         

Diluted

                       

Income available to common stockholders plus assumed exercises of stock options

  $ 45,621       15,550,131     $ 2.93  
   

 

 

   

 

 

   

 

 

 

Year Ended December 31, 2010

                       

Basic

                       

Income available to common stockholders

  $ 42,309       15,348,102     $ 2.76  
                   

 

 

 

Effect of stock options

    —         303,210          
   

 

 

   

 

 

         

Diluted

                       

Income available to common stockholders plus assumed exercises of stock options

  $ 42,309       15,651,312     $ 2.70  
   

 

 

   

 

 

   

 

 

 

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 year because the options’ exercise prices were greater than the average market price of the common shares.

 

                 
    Shares     Average
Exercise
Price
 

December 31, 2012

    604,429     $ 38.69  

December 31, 2011

    550,495     $ 38.85  

December 31, 2010

    420,679     $ 38.31