Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

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Earnings per Share
 3 Months Ended
Mar. 31, 2013
Earnings per Share [Abstract]  
EARNINGS PER SHARE
11. EARNINGS PER SHARE

Basic earnings per common share (“EPS”) was computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common shares outstanding during the period, including the effect of dilutive potential common shares outstanding attributable to stock awards. There were approximately 234,300 and 559,900 shares underlying anti-dilutive stock awards as of March 31, 2013 and 2012, respectively.

The following is a reconcilement of the denominators of the basic and diluted EPS computations for the three months ended March 31, 2013 and 2012 (dollars and shares in thousands, except per share amounts):

 

                         
    Net Income
Available to
Common
Shareholders
(Numerator)		     Weighted
Average
Common Shares
(Denominator)		     Per Share
Amount		  

For the Three Months ended March 31, 2013

                        

Net income, basic

   $ 8,983       25,063     $ 0.36  

Add: potentially dilutive common shares - stock awards

     —         75       —    
   

 

 

    

 

 

    

 

 

  

Diluted

   $ 8,983       25,138     $ 0.36  
   

 

 

    

 

 

    

 

 

  
       

For the Three Months ended March 31, 2012

                        

Net income, basic

   $ 7,923       25,857     $ 0.31  

Add: potentially dilutive common shares - stock awards

     —         22       —    
   

 

 

    

 

 

    

 

 

  

Diluted

   $ 7,923       25,879     $ 0.31