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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 September 30, | For the nine months ended September 30, | |||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
Net income available to common stockholders | $ | 12,733 | $ | 6,551 | $ | 23,888 | $ | 12,973 | ||||||||
Weighted average number of common shares outstanding | 41,297,834 | 39,934,275 | 40,509,810 | 35,363,531 | ||||||||||||
Effect of warrants | - | 61,809 | - | 814,488 | ||||||||||||
Effect of stock options | 180,171 | 32,047 | 177,378 | 29,098 | ||||||||||||
Weighted average diluted number of common shares outstanding | 41,478,005 | 40,028,131 | 40,687,188 | 36,207,117 | ||||||||||||
Basic earnings per share | $ | 0.31 | $ | 0.16 | $ | 0.59 | $ | 0.37 | ||||||||
Diluted earnings per share | $ | 0.31 | $ | 0.16 | $ | 0.59 | $ | 0.36 |