EX-11 2 ex11.htm EXHIBIT 11

Exhibit 11

Statement of Computation of Per Share Earnings

The composition of basic and diluted earnings per share were as follows for:

(Dollars in thousands, except per share amounts)

|  | For the three months ended June 30, |  |  | For the six months ended June 30, |
|  | 201 4 |  |  | 201 3 |  |  | 201 4 |  |  | 201 3 |
Net income available to common stockholders |  | $ | 5,347 |  |  | $ | 18,156 |  |  | $ | 11,621 |  |  | $ | 32,206 |
Weighted average number of common shares outstanding |  |  | 43,352,836 |  |  |  | 43,334,441 |  |  |  | 43,348,195 |  |  |  | 43,132,398 |
Effect of stock options and other awards |  |  | 197,293 |  |  |  | 27,114 |  |  |  | 123,685 |  |  |  | 24,429 |
Weighted average diluted number of common shares outstanding |  |  | 43,550,129 |  |  |  | 43,361,555 |  |  |  | 43,471,880 |  |  |  | 43,156,827 |
Basic earnings per share |  | $ | 0.12 |  |  | $ | 0.42 |  |  | $ | 0.27 |  |  | $ | 0.75 |
Diluted earnings per share |  | $ | 0.12 |  |  | $ | 0.42 |  |  | $ | 0.27 |  |  | $ | 0.75 |