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Shareholders' Equity And Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2011
Shareholders' Equity And Earnings Per Share  
Aggregate Fair Values Assigned To Each Component Of Tangible Equity Units

(Dollars in thousands, except per unit amounts)

   Equity
Component
     Debt
Component
     TEU
Total
 

Units issued (1)

     4,600         4,600         4,600   

Unit price

   $ 40.271818       $ 9.728182       $ 50.00   

Gross proceeds

     185,250         44,750         230,000   

Issuance costs, including discount

     5,934         1,419         7,353   
  

 

 

    

 

 

    

 

 

 

Accretable yield, ending balance

   $ 179,316       $ 43,331       $ 222,647   
  

 

 

    

 

 

    

 

 

 

Balance sheet impact

        

Other borrowings

     —           43,331         43,331   

Surplus

     179,316         —           179,316   

 

Market Value Of Company Common Stock And Settlement Rate

Applicable market value of
Company common stock

  

Settlement Rate

Less than or equal to $30.00

   1.6666

Greater than $30.00 but less than $37.50

   $50.00, divided by the applicable market value

Greater than or equal to $37.50

   1.3333
Computation Of Basic And Diluted Earnings Per Share
           For the Three Months
Ended June 30,
     For the Six Months
Ended June 30,
 

(In thousands, except per share data)

         2011      2010      2011      2010  

Net income

     $ 11,750       $ 13,009       $ 28,152       $ 29,027   

Less: Preferred stock dividends and discount accretion

       1,033         4,943         2,064         9,887   
    

 

 

    

 

 

    

 

 

    

 

 

 

Net income applicable to common shares — Basic

     (A     10,717         8,066         26,088         19,140   

Add: Dividends on convertible preferred stock

       —           —           —           —     
    

 

 

    

 

 

    

 

 

    

 

 

 

Net income applicable to common shares — Diluted

     (B     10,717         8,066         26,088         19,140   
    

 

 

    

 

 

    

 

 

    

 

 

 

Weighted average common shares outstanding

     (C     34,971         31,074         34,950         28,522   

Effect of dilutive potential common shares

       8,438         1,267         8,437         1,203   
    

 

 

    

 

 

    

 

 

    

 

 

 

Weighted average common shares and effect of dilutive potential common shares

     (D     43,409         32,341         43,387         29,725   
    

 

 

    

 

 

    

 

 

    

 

 

 

Net income per common share:

             

Basic

     (A/C   $ 0.31       $ 0.26       $ 0.75       $ 0.67   
    

 

 

    

 

 

    

 

 

    

 

 

 

Diluted

     (B/D   $ 0.25       $ 0.25       $ 0.60       $ 0.64