Earnings per Common Share (Tables)

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following table summarizes the computation of basic and diluted earnings per share (in thousands, except per share data):

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2013			2012			2013			2012
Earnings per common share—basic
Net income	$	10,071		$	2,799		$	51,731		$	34,601
Less: Preferred stock dividends	(783		)	(2,625		)	(1,566		)	(5,250		)
Net income allocable to common shareholders	$	9,288		$	174		$	50,165		$	29,351
Weighted-average common shares outstanding—basic	71,111			65,060			71,086			65,021
Basic earnings per common share	$	0.13		$	0.00		$	0.71		$	0.45
Earnings per common share—diluted
Net income	10,071			$	2,799		$	51,731		$	34,601
Less: Preferred stock dividends	(783		)	(2,625		)	—			—
Interest on convertible debt, net of tax	1,230			—			2,439			—
Net income including assumed conversions	$	10,518		$	174		$	54,170		$	34,601
Weighted-average common shares outstanding—basic	71,111			65,060			71,086			65,021
Convertible notes weighted-average shares outstanding	15,000			—			15,000			—
Preferred stock weighted-average shares outstanding	—			—			5,924			19,858
Options, restricted stock and other dilutive securities	238			52			225			71
Weighted-average common shares outstanding—diluted	86,349			65,112			92,235			84,950
Dilutive earnings per common share	$	0.12		$	0.00		$	0.59		$	0.41