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Earnings Per Common Share (Tables)
 3 Months Ended
Mar. 31, 2013
Earnings Per Common Share  
Reconciliation of basic and diluted earnings per common share

 

 

 

 

For the Three Months Ended

March 31,

 

(In Thousands, Except Share Data)

 

2013

 

2012

 

Net income

 

$  13,852

 

 

$  9,996

 

 

Income allocated to participating securities

 

(158

)

 

—

 

 

Income attributable to common shareholders

 

$ 13,694

 

 

$ 9,996

 

 

Average number of common shares outstanding — basic

 

96,674,729

 

 

95,018,867

 

 

Dilutive effect of stock options (1)

 

—

 

 

—

 

 

Average number of common shares outstanding — diluted

 

96,674,729

 

 

95,018,867

 

 

 

 

 

 

 

 

 

 

Income per common share attributable to common shareholders:

 

 

 

 

 

 

 

Basic

 

$ 0.14

 

 

$ 0.11

 

 

Diluted

 

$ 0.14

 

 

$ 0.11

 

 

 

(1)

Excludes options to purchase 2,825,855 shares of common stock which were outstanding during the three months ended March 31, 2013 and options to purchase 5,822,224 shares of common stock which were outstanding during the three months ended March 31, 2012 because their inclusion would be anti-dilutive.