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NET INCOME PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2018
Earnings Per 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): 

 

 

 

Year ended December 31

 

 

 

2018

 

 

2017

 

 

2016

 

Basic net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

50,072

 

 

$

79,589

 

 

$

82,873

 

Preferred stock dividends

 

 

(19,368

)

 

 

(17,442

)

 

 

(15,372

)

Earnings participation of unvested stock awards

 

 

(102

)

 

 

(150

)

 

 

(140

)

 

 

$

30,602

 

 

$

61,997

 

 

$

67,361

 

Denominator for basic net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Average number of shares of common stock outstanding

 

 

91,565

 

 

 

96,023

 

 

 

95,957

 

Average unvested stock awards outstanding

 

 

(451

)

 

 

(305

)

 

 

(301

)

 

 

 

91,114

 

 

 

95,718

 

 

 

95,656

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

0.34

 

 

$

0.65

 

 

$

0.70

 

Diluted net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for diluted net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic net income per common share

 

$

30,602

 

 

$

61,997

 

 

$

67,361

 

Denominator for diluted net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic net income per common share

 

 

91,114

 

 

 

95,718

 

 

 

95,656

 

Net effect of dilutive equity-based awards

 

 

116

 

 

 

125

 

 

 

163

 

 

 

 

91,230

 

 

 

95,843

 

 

 

95,819

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

0.34

 

 

$

0.65

 

 

$

0.70