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Earnings (Loss) per Share
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Earnings (Loss) per Share
Earnings (Loss) per Share
 
The following table sets forth the computation of basic and diluted earnings (loss) per share:
 
 
For the Years Ended December 31,
 
2012
2011
2010
(in thousands, except per share amounts)
Income
Weighted-average Shares
Per Share
Amount
Income
Weighted-average Shares
Per Share
Amount
Loss
Weighted-average Shares
Per Share
Amount
Basic earnings (loss) per share:
 
 
 
 
 
 
 
 
 
Net income (loss)
$
10,894

 
 
$
289

 
 
$
(4,337
)
 
 
Preferred stock dividends
(80
)
 
 
(80
)
 
 
(80
)
 
 
Income (loss) available to
common stockholders
10,814

14,128

$
0.77

209

13,919

$
0.02

(4,417
)
13,563

$
(0.33
)
Effect of dilutive securities:
 
 
 
 
 
 
 
 
 

Stock options
 
—

 
 
—

 
 
—

 

Diluted earnings (loss) per
share:
 

 

 

 

 

 

 

 

 

Income (loss) available to
common stockholders plus
assumed conversions
$
10,814

14,128

$
0.77

$
209

13,919

$
0.02

$
(4,417
)
13,563

$
(0.33
)

 
There were 1,273,731 common stock options excluded from the computation of diluted earnings per share for the year ended December 31, 2012 which were exercisable between the prices of $8.46 and $33.50 per option. For the year ended December 31, 2011 there were 1,076,067 options excluded from the computation of diluted earnings per share which were exercisable between the prices of $8.46 and $33.50 per option. There were 1,069,774 options excluded from the computation of diluted loss per share for the year ended December 31, 2010 which were exercisable between the prices of $11.55 and $33.50 per option. These options were excluded because of their anti-dilutive impact.