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Earnings per Share
 3 Months Ended
Mar. 31, 2014
Earnings per Share

9.      Earnings per Share

The following table details the Company’s calculation of earnings per share for the three months ended March 31, 2014 and 2013.  

 

 

Three Months Ended March 31

 

 

 

2014

 

 

2013

 

Basic earnings per share:

 

 

 

 

 

 

 

 

Net income

 

$

16,798

 

 

$

67,239

 

Less preferred stock dividends

 

 

(5,480

)

 

 

(5,480

)

Net income available to common shareholders

 

$

11,318

 

 

$

61,759

 

 

 

 

 

 

 

 

 

 

Weighted average shares

 

 

96,606,081

 

 

 

98,827,587

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

0.12

 

 

$

0.62

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

Net income

 

$

16,798

 

 

$

67,239

 

Less preferred stock dividends for antidilutive shares

 

 

(5,480

)

 

 

(5,480

)

Net income available to common shareholders

 

$

11,318

 

 

$

61,759

 

 

 

 

 

 

 

 

 

 

Weighted average shares

 

 

96,606,081

 

 

 

98,827,587

 

Potential dilutive shares from exercise of stock options

 

 

-

 

 

 

-

 

Diluted weighted average shares

 

 

96,606,081

 

 

 

98,827,587

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

$

0.12

 

 

$

0.62

 

 

There were no potentially dilutive shares for the three months ended March 31, 2014 and 2013.