NET INCOME PER COMMON SHARE (Tables)

9 Months Ended

Sep. 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 September 30						Nine Months Ended September 30
	2016			2015			2016			2015
Basic net income per common share
Numerator for basic net income per common share:
Net income	$	16,440		$	21,067		$	65,423		$	79,968
Preferred stock dividends		(3,846	)		(3,809	)		(11,515	)		(11,339	)
Earnings participation of unvested equity awards		(40	)		(28	)		(123	)		(95	)
	$	12,554		$	17,230		$	53,785		$	68,534
Denominator for basic net income per common share:
Average number of shares of common stock outstanding		95,978			95,814			95,946			95,814
Average unvested stock awards outstanding		(300	)		(284	)		(299	)		(314	)
		95,678			95,530			95,647			95,500
	$	0.13		$	0.18		$	0.56		$	0.72
Diluted net income per common share
Numerator for diluted net income per common share:
Numerator for basic net income per common share	$	12,554		$	17,230		$	53,785		$	68,534
Denominator for diluted net income per common share:
Denominator for basic net income per common share		95,678			95,530			95,647			95,500
Net effect of dilutive equity awards		188			191			152			195
		95,866			95,721			95,799			95,695
	$	0.13		$	0.18		$	0.56		$	0.72