Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2013

Earnings Per Common Share [Abstract]

Reconciliation of basic and diluted loss per share

	2013		2012
	(in thousands, except
	per share amounts)
Net income applicable to common stock	$	4,712	$	2,448
Convertible preferred stock dividends		1,095		1,056
Net income applicable to common stock for calculation of diluted  earnings per share	$	5,807	$	3,504
Weighted average shares outstanding (1)		9,266		8,534
Effect of convertible preferred stock		12,026		38,618
Restricted stock units		361		140
Stock units for deferred compensation plan for non-employee directors		117		26
Effect of stock options		61		-
Weighted average shares outstanding for calculation of diluted earnings per share		21,831		47,318
Net income per common share
Basic (1)	$	0.51	$	0.29
Diluted	$	0.27	$	0.07

(1)Basic net income per common share includes weighted average common shares outstanding during the period and participating share awards.