XML 60 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Common Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Common Share
Earnings Per Common Share

The following table is a reconciliation of basic and diluted earnings per common share, or EPS.

 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
(In Thousands, Except Share Data)
 
2014
 
 
2013
 
 
 
2014
 
 
2013
 
Net income
 
$
18,808
 
 
 
$
16,924
 
 
 
 
$
72,657
 
 
 
$
46,441
 
 
Preferred stock dividends
 
(2,194
)
 
 
(2,194
)
 
 
 
(6,582
)
 
 
(5,021
)
 
Net income available to common shareholders
 
16,614
 
 
 
14,730
 
 
 
 
66,075
 
 
 
41,420
 
 
Income allocated to participating securities
 
(187
)
 
 
(195
)
 
 
 
(742
)
 
 
(508
)
 
Net income allocated to common shareholders
 
$
16,427
 
 
 
$
14,535
 
 
 
 
$
65,333
 
 
 
$
40,912
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic weighted average common shares outstanding
98,453,265
 
 
97,199,329
 
 
 
98,279,671
 
 
96,967,052
 
 
Dilutive effect of stock options and restricted stock units (1) (2)
—
 
 
—
 
 
 
—
 
 
—
 
 
Diluted weighted average common shares outstanding
98,453,265
 
 
97,199,329
 
 
 
98,279,671
 
 
96,967,052
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic EPS
 
 
$
0.17

 
 
 
$
0.15

 
 
 
 
$
0.66

 
 
 
$
0.42

 
Diluted EPS
 
 
$
0.17

 
 
 
$
0.15

 
 
 
 
$
0.66

 
 
 
$
0.42

 
 
(1)
Excludes options to purchase 988,050 shares of common stock which were outstanding during the three months ended September 30, 2014; options to purchase 1,871,935 shares of common stock which were outstanding during the three months ended September 30, 2013; options to purchase 1,016,451 shares of common stock which were outstanding during the nine months ended September 30, 2014; and options to purchase 2,215,820 shares of common stock which were outstanding during the nine months ended September 30, 2013 because their inclusion would be anti-dilutive.
(2)
Excludes 788,874 unvested restricted stock units which were outstanding during the three months ended September 30, 2014; 415,900 unvested restricted stock units which were outstanding during the three months ended September 30, 2013; 751,149 unvested restricted stock units which were outstanding during the nine months ended September 30, 2014; and 379,602 unvested restricted stock units which were outstanding during the nine months ended September 30, 2013 because the performance conditions have not been satisfied.