EARNINGS PER SHARE AND DIVIDEND DATA

12 Months Ended

Dec. 31, 2015

EARNINGS PER SHARE AND DIVIDEND DATA [Abstract]

EARNINGS PER SHARE AND DIVIDEND DATA

(17) EARNINGS PER SHARE AND DIVIDEND DATA

Basic earnings per share (“EPS”) are calculated using the two-class method.  The two-class method provides that unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of basic EPS.  Diluted EPS is computed using the weighted-average number of shares determined for the basic EPS computation plus the shares resulting from the assumed exercise of all outstanding share-based awards using the treasury stock method.  Weighted-average antidilutive stock options to purchase approximately 32,000, approximately 67,000 and 1.2 million shares of Company common stock with a weighted average exercise price of $25.31,  $24.89 and $23.81 per share for 2015, 2014 and 2013, respectively, were excluded from diluted shares.  There were no antidilutive other equity awards for 2015, 2014 and 2013.  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, 2015, 2014 and 2013:

	2015
	Income	Shares	Per Share
	(Numerator)	(Denominator)	Amount
Basic EPS:	(In thousands, except per share amounts)
Income available to common shareholders	$      127,491	95,825	$         1.33
Effect of dilutive stock options	-	299
Diluted EPS:
Income available to common shareholders
plus assumed exercise	$      127,491	96,124	$         1.33

	2014
	Income	Shares	Per Share
	(Numerator)	(Denominator)	Amount
Basic EPS:	(In thousands, except per share amounts)
Income available to common shareholders	$      116,750	95,973	$         1.22
Effect of dilutive stock options	-	329
Diluted EPS:
Income available to common shareholders
plus assumed exercise	$      116,750	96,302	$         1.21

	2013
	Income	Shares	Per Share
	(Numerator)	(Denominator)	Amount
Basic EPS:	(In thousands, except per share amounts)
Income available to common shareholders	$       94,115	95,048	$         0.99
Effect of dilutive stock options	-	284
Diluted EPS:
Income available to common shareholders
plus assumed exercise	$       94,115	95,332	$         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.