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



	For the Three Months Ended June 30,												For the Six Months Ended June 30,
(In Thousands, Except Share Data)	2016						2015							2016						2015
Net income		$	18,336					$	31,431					$	36,901					$	50,738
Preferred stock dividends		(2,194				)		(2,194				)		(4,388				)		(4,388				)
Net income available to common shareholders		16,142						29,237						32,513						46,350
Income allocated to participating securities		(160				)		(295				)		(296				)		(394				)
Net income allocated to common shareholders		$	15,982					$	28,942					$	32,217					$	45,956

Basic weighted average common shares outstanding	100,380,937						99,664,442						100,374,934						99,459,376
Dilutive effect of stock options and restricted stock units (1) (2)	—						—						—						—
Diluted weighted average common shares outstanding	100,380,937						99,664,442						100,374,934						99,459,376

Basic EPS				$	0.16					$	0.29					$	0.32					$	0.46
Diluted EPS				$	0.16					$	0.29					$	0.32					$	0.46

(1)

Excludes options to purchase 6,000 shares of common stock which were outstanding during the three months ended June 30, 2016; options to purchase 12,000 shares of common stock which were outstanding during the three months ended June 30, 2015; options to purchase 6,495 shares of common stock which were outstanding during the six months ended June 30, 2016; and options to purchase 16,334 shares of common stock which were outstanding during the six months ended June 30, 2015 because their inclusion would be anti-dilutive.

(2)

Excludes 744,923 unvested restricted stock units which were outstanding during the three months ended June 30, 2016; 1,029,336 unvested restricted stock units which were outstanding during the three months ended June 30, 2015; 746,027 unvested restricted stock units which were outstanding during the six months ended June 30, 2016; and 896,425 unvested restricted stock units which were outstanding during the six months ended June 30, 2015 because the performance conditions have not been satisfied.