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EXHIBIT 11 | ||||||||||||
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS | ||||||||||||
Year Ended December 31, | ||||||||||||
2011 | 2010 | 2009 | ||||||||||
Basic Earnings per Share | (In thousands, except per share amounts) | |||||||||||
Average shares outstanding | 83,486 | 83,425 | 83,295 | |||||||||
Income available to common shareholders | $ | 37,569 | $ | 22,942 | $ | 82,729 | ||||||
Basic earnings per share | $ | 0.45 | $ | 0.28 | $ | 0.99 | ||||||
Diluted Earnings per Share | ||||||||||||
Average common shares outstanding | 83,486 | 83,425 | 83,295 | |||||||||
Effect of dilutive stock options | 23 | 90 | 135 | |||||||||
Average diluted shares outstanding | 83,509 | 83,515 | 83,430 | |||||||||
Income available to common shareholders | $ | 37,569 | $ | 22,942 | $ | 82,729 | ||||||
Diluted earnings per share | $ | 0.45 | $ | 0.27 | $ | 0.99 |