Earnings Per Share

6 Months Ended

Jun. 30, 2011

10. Earnings Per Share

Basic earnings per share (“EPS”) is based on the weighted average number of shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution that could occur if securities to issue common stock were exercised.

The following tables reconcile the numerator (i.e., income) and denominator (i.e., shares) of the basic and diluted earnings per share computations for net income for the three and six-month periods ended June 30, 2011 and 2010 (in thousands, except per share data):


	Three Months Ended							Three Months Ended
	June 30, 2011							June 30, 2010
								Income
								Available to
						Per-Share		Common					Per-Share
	Net Income			Shares		Amount		Stockholders			Shares		Amount
Net income	$	7,549						$	10,767
Less: preferred stock dividends		(5	)						(5	)

Income available to common stockholders	$	7,544			39,187	$	0.19	$	10,762			39,167	$	0.27

Effect of dilutive securities:
Stock-based compensation					970				—			1,119
Preferred stock		5			488				5			160

Income available to common stockholders and assumed conversion	$	7,549			40,645	$	0.19	$	10,767			40,446	$	0.27


	Six Months Ended							Six Months Ended
	June 30, 2011							June 30, 2010
								Income
								Available to
						Per-Share		Common					Per-Share
	Net Income			Shares		Amount		Stockholders			Shares		Amount
Net income	$	21,447						$	17,711
Less: preferred stock dividends		(10	)						(10	)

Income available to common stockholders	$	21,437			39,187	$	0.55	$	17,701			39,029	$	0.45

Effect of dilutive securities:

Stock-based compensation					981				—			1,252
Preferred stock		10			489				10			160

Income available to common stockholders and assumed conversion	$	21,447			40,657	$	0.53	$	17,711			40,441	$	0.44

- Definition

The entire disclosure for earnings per share.

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