EARNINGS/(LOSS) PER COMMON SHARE

12 Months Ended

Dec. 31, 2011

EARNINGS/(LOSS) PER COMMON SHARE

EARNINGS/(LOSS) PER COMMON SHARE

NOTE 24 — EARNINGS/(LOSS) PER COMMON SHARE

        Earnings/(loss) per common share were computed as follows:

Year Ended December 31, 2011	Net Income/(Loss)			Weighted Average Shares		Per Share Amount
Basic Earnings Per Common Share
Net income	$	23,813
Preferred dividends and discount accretion		(3,054	)
		20,759			20,179,512	$	1.03
Effect of dilutive stock options					41,615
Diluted Earnings Per Common Share
Net income available to common shareholders and assumed conversions	$	20,759			20,221,127	$	1.03
Year Ended December 31, 2010
Basic Earnings Per Common Share
Net income	$	14,802
Preferred dividends and discount accretion		(3,054	)
		11,748			20,136,362	$	0.58
Effect of dilutive stock options					18,022
Diluted Earnings Per Common Share
Net income available to common shareholders and assumed conversions	$	11,748			20,154,384	$	0.58
Year Ended December 31, 2009
Basic Loss Per Common Share
Net (loss)	$	(64,139	)
Preferred dividends and discount accretion		(2,919	)
	$	(67,058	)		20,136,362	$	(3.33	)
Effect of dilutive stock options					—
Diluted (Loss) Per Common Share
Net (loss) attributable to common shareholders and assumed conversions	$	(67,058	)		20,136,362	$	(3.33	)

        Stock options for 254,850, 262,441, and 429,608 shares of common stock were not considered in computing diluted earnings per common share for 2011, 2010 and 2009 because they were antidilutive. Stock warrants for 571,906 shares of common stock were not considered in computing earnings per share in 2011 and 2010 because they were antidilutive.