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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Loss Per Common Share
The computation of earnings per share is as follows:
 
Year Ended December 31, 2015
 
Year Ended December 31, 2014
 
Nine Months Ended December 31, 2013 (1)
 
(In thousands, except per share data)
Numerator:
 
 
 
 
 
Numerator for basic and diluted earnings per share – net income available to common equity
$
137,758

 
$
14,622

 
$
206,918

Denominator:
 
 
 
 
 
Denominator for basic earnings per share – weighted average shares
9,407

 
9,107

 
16,989

Effect of dilutive securities:
 
 
 
 
 
Restricted stock (2)
51

 
44

 
—

Denominator for diluted earnings per share – weighted average shares
$
9,458

 
$
9,151

 
$
16,989

Basic income per common share
$
14.64

 
$
1.61

 
$
12.18

Diluted income per common share
$
14.57

 
$
1.60

 
$
12.18

(1)
The calculation of weighted average shares included 21,247,000 shares of Legacy Common Stock outstanding through September 26, 2013 and 9,050,000 shares of common stock outstanding from September 27 through December 31, 2013.
(2)
Computed based on the treasury stock method using the average market price per period. The value used prior to the issuance of shares pursuant to the recapitalization transaction on September 27, 2013 was approximately 90% of book value. Since the time of the transaction, the position of the Company has remained relatively the same, therefore the issuance of the August 15, 2014 grant of restricted stock shares at 90% of book value as of the most recent month end was a reasonable approximation of fair value.