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Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Computation Of Basic And Diluted Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As Restated

(Dollars in thousands, except earnings per share data)

2012

 

2011

 

2010

Numerator:

 

 

 

 

 

 

 

 

Net income (loss)

$

16,187 

 

$

(68,295)

 

$

11,367 

Preferred dividend

 

(2,196)

 

 

(3,522)

 

 

(3,500)

Warrant amortization

 

(1,545)

 

 

(731)

 

 

(687)

Net income (loss) available to common shareholders

 

12,446 

 

 

(72,548)

 

 

7,180 

Earnings allocated to participating securities

 

 -

 

 

 -

 

 

(36)

Numerator for basic earnings per common share

 

12,446 

 

 

(72,548)

 

 

7,144 

Effect of reallocating undistributed earnings

 

 

 

 

 

 

 

 

of participating securities

 

 -

 

 

 -

 

 

 -

Numerator for diluted earnings per common share

$

12,446 

 

$

(72,548)

 

$

7,144 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

Denominator for basic earnings per common share -

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

19,374,098 

 

 

19,414,231 

 

 

17,848,610 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Stock options

 

 -

 

 

 -

 

 

16,581 

Warrant

 

 -

 

 

 -

 

 

 -

Denominator for diluted earnings per common share

 

19,374,098 

 

 

19,414,231 

 

 

17,865,191 

 

 

 

 

 

 

 

 

 

Earnings per common share:

 

 

 

 

 

 

 

 

Basic

$

0.64 

 

$

(3.73)

 

$

0.40 

Diluted

$

0.64 

 

$

(3.73)

 

$

0.40