SHAREHOLDERS' EQUITY AND INCOME PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2014

SHAREHOLDERS' EQUITY AND INCOME PER COMMON SHARE [Abstract]

Reconciliation of basic and diluted loss per share

A reconciliation of basic and diluted net income per common share for the years ended December 31 follows:

	2014		2013			2012
	(In thousands, except per share amounts)
Net income applicable to common stock	$	18,021	$	82,062		$	21,851
Convertible preferred stock dividends		-		3,001			4,347
Preferred stock discount		-		(7,554	)		-
Net income applicable to common stock for calculation of diluted earnings per share	$	18,021	$	77,509		$	26,198
Weighted average shares outstanding (1)		22,927		13,970			8,709
Restricted stock units		306		363			216
Effect of stock options		124		92			2
Stock units for deferred compensation plan for non-employee directors		114		125			66
Effect of convertible preferred stock		-		7,314			23,892
Weighted average shares outstanding for calculation of diluted earnings per share		23,471		21,864			32,885
Net income per common share
Basic (1)	$	0.79	$	5.87		$	2.51
Diluted	$	0.77	$	3.55		$	0.80

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