Basic and Diluted Net Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2013

Basic and Diluted Net Income (Loss) Per Common Share

Basic and Diluted Net Income (Loss) Per Common Share

12. Basic and Diluted Net Income (Loss) Per Common Share

Computation of basic and diluted net income (loss) per common share is performed as follows:

	Three Months Ended September 30,					Nine Months Ended September 30,
(Dollars in thousands, except per share amounts)	2013		2012			2013		2012
Net income (loss) available to common shareholders	$	11,885	$	(4,453	)	$	34,669	$	14,169
Weighted Average Shares Outstanding
Basic	53,900,119		56,682,153			53,774,268		56,611,496
Effect of Dilutive Securities	863,677		515,266			732,110		559,346
Diluted	54,763,796		57,197,419			54,506,378		57,170,842
Net income (loss) per common share
Basic	$	0.22	$	(0.08	)	$	0.64	$	0.25
Diluted	$	0.22	$	(0.08	)	$	0.64	$	0.25

The stock options that were excluded from the dilutive calculations as the effect would have been antidilutive were zero and 390,930 for the three months ended September 30, 2013 and 2012, respectively, and 25,625 and 383,028 for the nine months ended September 30, 2013 and 2012, respectively.