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EARNINGS PER COMMON SHARE
 3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
The following table sets forth the comparison of basic and diluted earnings per common share:
 
  
Three months ended March 31,
 
 
  
2017
 
2016
 
 
 
 
 
 
 
 
Basic earnings per common share
 
 
 
 
 
Net income
$
19,855

 
$
48,386

 
 
Less: preferred share dividends
14,841

 
9,969

 
 
Net income available to common shareholders
5,014

 
38,417

 
 
Weighted average common shares outstanding - basic

86,022

 
94,035

 
 
Basic earnings per common share
$
0.06

 
$
0.41

 
 
 
 
 
 
 
 
Diluted earnings per common share
 
 
 
 
 
Net income available to common shareholders
$
5,014

 
$
38,417

 
 
 
 
 
 
 
 
Weighted average common shares outstanding - basic
86,022

 
94,035

 
 
Share-based compensation plans
771

 
818

 
 
Weighted average common shares outstanding - diluted
86,793

 
94,853

 
 
 
 
 
 
 
 
Diluted earnings per common share
$
0.06

 
$
0.41

 
 
 
 
 
 
 
 
Anti-dilutive shares excluded from the dilutive computation
551

 
670

 
 
 
 
 
 
 

(1)
On August 17, 2015, the Company entered into an Accelerated Share Repurchase (“ASR”) agreement (see 'Note 9 - Shareholders' Equity' for additional detail). The weighted-average number of shares outstanding used in the computation of basic and diluted earnings per share reflects the Company’s receipt of 4,149,378 common shares delivered to the Company on August 20, 2015, and 1,358,380 common shares delivered to the company on January 15, 2016 under the Company's ASR agreement.