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Statement Regarding Computation of Per Share Earnings
The following table is the reconciliation of basic and diluted earnings per share for the years ended December 31, 2010, 2009 and 2008 (dollars in thousands except per share amounts):
| 2010 | 2009 | 2008 | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Basic | Diluted | Basic | Diluted | Basic | Diluted | ||||||||||||||
Net income | $ | 26,872 | $ | 26,872 | $ | 19,200 | $ | 19,200 | $ | 12,850 | $ | 12,850 | ||||||||
Weighted average shares outstanding | 58,578,599 | 58,578,599 | 58,370,569 | 58,370,569 | 57,607,498 | 57,607,498 | ||||||||||||||
Effect of dilutive securities | — | 4,586 | — | 36,898 | — | 243,908 | ||||||||||||||
Adjusted weighted average shares outstanding | 58,578,599 | 58,583,185 | 58,370,569 | 58,407,467 | 57,607,498 | 57,851,406 | ||||||||||||||
Earning per share | $ | 0.46 | $ | 0.46 | $ | 0.33 | $ | 0.33 | $ | 0.22 | $ | 0.22 |
Statement Regarding Computation of Per Share Earnings