STOCKHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2011

STOCKHOLDERS' EQUITY [Abstract]

Earnings (loss) per share calculations

The following table sets forth earnings per share calculations for the three and six months ended June 30, 2011 and 2010:

	Three Months Ended June 30,
	2011							2010
	Net Income Available to Common Stockholders			Number of Shares		Per Share  Amounts		Net Income Available to  Common Stockholders			Number of Shares		Per Share Amounts
	(In thousands, except per share data)
Net income	$	60,525						$	36,348
Less:
Preferred stock dividends and amortization of preferred stock discount		(1,714	)						(6,147	)
Basic EPS – income available to common stockholders	$	58,811			147,011	$	0.40	$	30,201			146,372	$	0.21
Effect of dilutive securities:
Stock options		-			73				-			155
Restricted stock		35			692				4			404
Convertible preferred stock		1,714			5,571				-			-
Stock warrants		-			-				-			200
Diluted EPS – income available to common stockholders	$	60,560			153,347	$	0.39	$	30,205			147,131	$	0.21

	Six Months Ended June 30,
	2011							2010
	Net Income Available to Common Stockholders			Number of Shares		Per Share Amounts		Net Income Available to Common Stockholders			Number of Shares		Per Share Amounts
	(In thousands, except per share data)
Net income	$	116,596						$	61,264
Less:
Preferred stock dividends and amortization of preferred stock discount		(3,429	)						(12,285	)
Basic EPS – income available to common stockholders	$	113,167			146,937	$	0.77	$	48,979			123,445	$	0.40
Effect of dilutive securities:
Stock options		-			96				-			167
Restricted stock		41			685				7			320
Convertible preferred stock		3,429			5,571				-			18,019
Stock warrants		-			60				-			183
Diluted EPS – income available to common stockholders	$	116,637			153,349	$	0.76	$	48,986			142,134	$	0.34

Shares excluded from the calculation of diluted EPS

The following outstanding convertible preferred stock, stock options, and restricted stock for the three and six months ended June 30, 2011 and 2010, respectively, were excluded from the computation of diluted EPS because including them would have had an antidilutive effect.

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
	(In thousands)
Convertible preferred stock		-		5,573		-		5,573
Stock options		864		1,063		861		1,063
Restricted stock		395		13		257		642