Basic and Diluted Earnings (Loss) Per Common Share

9 Months Ended

Sep. 30, 2012

Basic and Diluted Earnings (Loss) Per Common Share [Abstract]

BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE

NOTE C — BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE

Equivalent shares of 527,000 and 1,125,000 related to stock options, stock settled appreciation rights and warrants for each of the periods ended September 30, 2012 and 2011, respectively, were excluded from the computation of diluted EPS because they would have been anti-dilutive.

	Three Months Ended September 30,					Nine Months Ended September 30,
(Dollars in thousands, except per share data)	2012			2011		2012			2011
Basic:
Net income (loss) available to common shareholders	$	(490	)	$	1,711	$	(3,761	)	$	1,308
Average basic shares outstanding		93,777,662			93,524,950		93,688,003			93,492,180
Basic income (loss) EPS	$	(0.01	)	$	0.02	$	(0.04	)	$	0.01
Diluted:
Net income (loss) available to common shareholders	$	(490	)	$	1,711	$	(3,761	)	$	1,308
Average basic shares outstanding		93,777,662			93,524,950		93,688,003			93,492,180
Employee restricted stock		704,335			353,249		755,212			119,043
Average diluted shares outstanding		94,481,997			93,878,199		94,443,215			93,611,223
Diluted income (loss) EPS	$	(0.01	)	$	0.02	$	(0.04	)	$	0.01