Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted 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 March 31,
(In Thousands, Except Share Data)	2017						2016
Net income		$	14,407					$	18,565
Preferred stock dividends		(2,194				)		(2,194				)
Net income available to common shareholders		12,213						16,371
Income allocated to participating securities		(80				)		(135				)
Net income allocated to common shareholders		$	12,133					$	16,236
Basic weighted average common shares outstanding	100,585,603						100,368,931
Dilutive effect of stock options and restricted stock units (1) (2)	—						—
Diluted weighted average common shares outstanding	100,585,603						100,368,931
Basic EPS				$	0.12					$	0.16
Diluted EPS				$	0.12					$	0.16

(1) Excludes options to purchase 933 shares of common stock which were outstanding during the three months ended March 31, 2017 and options to purchase 6,989 shares of common stock which were outstanding during the three months ended March 31, 2016 because their inclusion would be anti-dilutive.

(2) Excludes 490,387 unvested restricted stock units which were outstanding during the three months ended March 31, 2017 and 747,132 unvested restricted stock units which were outstanding during the three months ended March 31, 2016 because the performance conditions have not been satisfied.