EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2012

Earnings Per Share Tables

Schedule of computations of basic and diluted EPS

The following table illustrates the computations of basic and diluted earnings per share for the periods indicated.

	2012						2011						2010
	Diluted			Basic			Diluted			Basic			Diluted			Basic
	(in thousands, except per share data)
Net income as reported	$	9,274		$	9,274		$	23,383		$	23,383		$	1,410		$	1,410
Less preferred stock dividend declared		(1,250	)		(1,250	)		(2,555	)		(2,555	)		(1,250	)		(1,250	)
Net income available to common shareholders	$	8,024		$	8,024		$	20,828		$	20,828		$	160		$	160
Weighted average common shares outstanding		29,229			29,229			28,716			28,716			24,411			24,411
Warrants		—			—			—			—			—			—
Restricted stock		—			—			417			—			21			—
Options		27			—			—			—			—			—
Convertible preferred stock		333			—			318			—			303			—
Weighted average common shares outstanding		29,589			29,229			29,451			28,716			24,735			24,411
Earnings per common share	$	0.27		$	0.27		$	0.71		$	0.73		$	0.01		$	0.01