EARNINGS PER SHARE AND DIVIDEND DATA

12 Months Ended

Dec. 31, 2011

EARNINGS PER SHARE AND DIVIDEND DATA [Abstract]

EARNINGS PER SHARE AND DIVIDEND DATA

(17) EARNINGS PER SHARE AND DIVIDEND DATA

The computation of basic earnings per share is based on the weighted average number of common shares outstanding.  The computation of diluted earnings per share is based on the weighted average number of common shares outstanding plus the shares resulting from the assumed exercise of all outstanding stock options using the treasury stock method.  Weighted-average antidilutive stock options to purchase 2.8 million, 2.2 million and 1.2 million shares of Company common stock with a weighted average exercise price of $21.75, $23.46 and $23.98 per share for 2011, 2010 and 2009, respectively, were excluded from diluted shares.  Antidilutive other equity awards covering approximately 36,000 and 23,000 shares of Company common stock for 2011 and 2009, respectively, were also excluded from diluted shares.  There were no antidilutive other equity awards for 2010.  The following tables provide a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the years ended December 31, 2011, 2010 and 2009:

	2011
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
Basic EPS:	(In thousands, except per share amounts)
Income available to common shareholders	$	37,569		83,486	$	0.45
Effect of dilutive stock options		-		23
Diluted EPS:
Income available to common shareholders plus assumed exercise	$	37,569		83,509	$	0.45

	2010
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
Basic EPS:	(In thousands, except per share amounts)
Income available to common shareholders	$	22,942		83,425	$	0.28
Effect of dilutive stock options		-		90
Diluted EPS:
Income available to common shareholders plus assumed exercise	$	22,942		83,515	$	0.27

	2009
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
Basic EPS:	(In thousands, except per share amounts)
Income available to common shareholders	$	82,729		83,295	$	0.99
Effect of dilutive stock options		-		135
Diluted EPS:
Income available to common shareholders plus assumed exercise	$	82,729		83,430	$	0.99

Dividends to shareholders are paid from dividends paid to the Company by the Bank which are subject to approval by the applicable state regulatory authority.