NET INCOME PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2016

NET INCOME PER COMMON SHARE [Abstract]

Components of Computation of Basic and Diluted Net Income per Common Share

Components of the computation of basic and diluted net income per common share were as follows for the indicated periods (dollars in thousands, except per share amounts):

	Quarter Ended June 30						Six Months Ended June 30
	2016			2015			2016			2015
Basic net income per common share
Numerator for basic net income per common share:
Net income	$	21,630		$	24,944		$	48,983		$	58,901
Preferred stock dividends		(3,843	)		(3,788	)		(7,669	)		(7,530	)
Earnings participation of unvested equity awards		(39	)		(33	)		(83	)		(67	)
	$	17,748		$	21,123		$	41,231		$	51,304
Denominator for basic net income per common share:
Average number of shares of common stock outstanding		95,947			95,805			95,930			95,815
Average unvested stock awards outstanding		(299	)		(304	)		(299	)		(330	)
		95,648			95,501			95,631			95,485
	$	0.19		$	0.22		$	0.43		$	0.54
Diluted net income per common share
Numerator for diluted net income per common share:
Numerator for basic net income per common share	$	17,748		$	21,123		$	41,231		$	51,304
Denominator for diluted net income per common share:
Denominator for basic net income per common share		95,648			95,501			95,631			95,485
Net effect of dilutive equity awards		138			188			135			197
		95,786			95,689			95,766			95,682
	$	0.19		$	0.22		$	0.43		$	0.54