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Earnings Per Common Share (Tables)
6 Months Ended
Jun. 30, 2013
Earnings Per Common Share  
Reconciliation of basic and diluted earnings per common share

 

 

For the Three Months Ended
June 30,

 

For the Six Months Ended
June 30,

(In Thousands, Except Share Data)

 

2013

 

2012

 

2013

 

2012

 

Net income

 

$

15,665

 

$

12,824

 

$

29,517

 

$

22,820

 

Preferred stock dividends

 

(2,827

)

 

(2,827

)

 

Net income available to common shareholders

 

12,838

 

12,824

 

26,690

 

22,820

 

Income allocated to participating securities

 

(154

)

(187

)

(314

)

(102

)

Net income allocated to common shareholders

 

$

12,684

 

$

12,637

 

$

26,376

 

$

22,718

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average common shares outstanding

 

97,021,334

 

95,332,904

 

96,848,989

 

95,175,886

 

Dilutive effect of stock options (1)

 

 

 

 

 

Diluted weighted average common shares outstanding

 

97,021,334

 

95,332,904

 

96,848,989

 

95,175,886

 

 

 

 

 

 

 

 

 

 

 

Basic EPS

 

$

0.13

 

$

0.13

 

$

0.27

 

$

0.24

 

Diluted EPS

 

$

0.13

 

$

0.13

 

$

0.27

 

$

0.24

 

 

(1)

Excludes options to purchase 1,949,670 shares of common stock which were outstanding during the three months ended June 30, 2013; options to purchase 5,750,485 shares of common stock which were outstanding during the three months ended June 30, 2012; options to purchase 2,387,763 shares of common stock which were outstanding during the six months ended June 30, 2013; and options to purchase 5,786,354 shares of common stock which were outstanding during the six months ended June 30, 2012 because their inclusion would be anti-dilutive.