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Exhibit 11
Statement re 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, | |||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
Net income available to common stockholders | $ | 8,439 | $ | 2,763 | $ | 11,153 | $ | 6,422 | ||||||||
Weighted average number of common shares outstanding | 40,234,242 | 36,773,695 | 40,109,268 | 33,040,280 | ||||||||||||
Effect of warrants | - | 721,575 | - | 1,193,092 | ||||||||||||
Effect of stock options | 203,781 | 27,323 | 175,981 | 27,650 | ||||||||||||
Weighted average diluted number of common shares outstanding | 40,438,023 | 37,522,593 | 40,285,249 | 34,261,022 | ||||||||||||
Basic earnings per share | $ | 0.21 | $ | 0.08 | $ | 0.28 | $ | 0.19 | ||||||||
Diluted earnings per share | $ | 0.21 | $ | 0.07 | $ | 0.28 | $ | 0.19 |