Basic and Diluted Earnings (Loss) Per Common Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Basic and Diluted Earnings (Loss) Per Common Share

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

Equivalent shares of 682,000 and 527,000 related to stock options, and stock settled appreciation rights for each of the periods ended September 30, 2013 and 2012, 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)	2013		2012			2013		2012
Basic:
Net income available to common shareholders	$	44,204	$	(490	)	$	47,328	$	(3,761	)
Average basic shares outstanding		94,029,583		93,777,662			93,983,629		93,688,003
Basic earnings per share	$	0.47	$	(0.01	)	$	0.50	$	(0.04	)
Diluted:
Net income available to common shareholders	$	44,204	$	(490	)	$	47,328	$	(3,761	)
Average basic shares outstanding		94,029,583		93,777,662			93,983,629		93,688,003
Employee restricted stock		1,460,570		704,335			952,413		755,212
Average diluted shares outstanding		95,490,153		94,481,997			94,936,042		94,443,215
Diluted earnings per share	$	0.46	$	(0.01	)	$	0.50	$	(0.04	)