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STOCKHOLDERS' EQUITY (Tables) | 3 Months Ended
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Mar. 31, 2012
STOCKHOLDERS' EQUITY |
Earnings per share calculations |
|  | Three Months Ended March 31, |
|  | 2012 |  | 2011 |
|  | Net Income |  |  |  |  |  | Net Income |  |  |  |  |
|  | Available to |  | Number |  | Per |  | Available to |  | Number |  | Per |
|  | Common |  | of |  | Share |  | Common |  | of |  | Share |
|  | Stockholders |  | Shares |  | Amounts |  | Stockholders |  | Shares |  | Amounts |
|  | (In thousands, except per share data) |
Net income |  | $ | 68,083 |  |  |  |  |  | $ | 56,071 |  |  |  |  |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock dividends |  | (1,714 | ) |  |  |  |  | (1,715 | ) |  |  |  |
Basic EPS – income available to common stockholders |  | $ | 66,369 |  | 145,347 |  | $ | 0.46 |  | $ | 54,356 |  | 146,837 |  | $ | 0.37 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  | — |  | 48 |  |  |  | — |  | 120 |  |  |
Restricted stock awards |  | 103 |  | 1,030 |  |  |  | 7 |  | 675 |  |  |
Convertible preferred stock |  | 1,714 |  | 5,571 |  |  |  | 1,715 |  | 5,571 |  |  |
Stock warrants |  | — |  | — |  |  |  | — |  | 131 |  |  |
Diluted EPS – income available to common stockholders |  | $ | 68,186 |  |  | 151,996 |  | $ | 0.45 |  | $ | 56,078 |  | 153,334 |  | $ | 0.37 |
Shares excluded from the calculation of diluted EPS |
|  | Three Months Ended |
|  | March 31, |
|  | 2012 |  | 2011 |
|  | (In thousands) |
Stock options |  | 396 |  | 911 |
Restricted stock awards |  | 3 |  | 118 |
Accumulated other comprehensive income (loss)), net of tax |
|  | Unrealized gain (loss) on |  |  |  |  |
|  | investment securities |  | Foreign currency |  |  |
|  | available-for-sale |  | translation adjustments |  | Total |
|  | (In thousands) |
Balance, December 31, 2010 |  | $ | (13,927 | ) | $ | 1,513 |  | $ | (12,414 | )
Period Change |  | 2,991 |  | (732 | ) | 2,259 |
Balance, March 31, 2011 |  | $ | (10,936 | ) | $ | 781 |  | $ | (10,155 | )
Balance, December 31, 2011 |  | $ | (34,848 | ) | $ | 908 |  | $ | (33,940 | )
Period Change |  | 17,052 |  | 10 |  | 17,062 |
Balance, March 31, 2012 |  | $ | (17,796 | ) | $ | 918 |  | $ | (16,878 | )
Schedule of tax effect allocated to component of other comprehensive income |
|  |  |  | Tax |  |  |
|  | Before-Tax |  | (Expense) |  | Net-of-Tax |
|  | Amount |  | or Benefit |  | Amount |
|  | (In thousands) |
Three months ended March 31, 2012 |  |  |  |  |  |  |
Unrealized gain on investment securities available-for-sale: |  |  |  |  |  |  |
Unrealized gains on holding gains arising during period |  | $ | 28,640 |  | $ | (12,029 | ) | $ | 16,611 |
Less: reclassification adjustment for losses/(gains) included in income |  | 5,826 |  | (2,447 | ) | 3,379 |
Net unrealized gains |  | 34,466 |  | (14,476 | ) | 19,990 |
Noncredit-related impairment loss on securities |  | (5,066 | ) | 2,128 |  | (2,938 | )
Foreign currency translation adjustments |  | 17 |  | (7 | ) | 10 |
Other comprehensive income |  | $ | 29,417 |  | $ | (12,355 | ) | $ | 17,062 |
|  |  |  |  |  | Tax |  |  |  |
|  |  | Before-Tax |  |  | (Expense) |  |  | Net-of-Tax |
|  |  | Amount |  |  | or Benefit |  |  | Amount |
|  | (In thousands) |
Three months ended March 31, 2011 |  |  |  |  |  |  |  |  |  |
Unrealized gain on investment securities available-for-sale: |  |  |  |  |  |  |  |  |  |
Unrealized gains on holding gains arising during period |  | $ | 4,022 |  | $ | (1,689 | ) | $ | 2,333 |
Less: reclassification adjustment for losses/(gains) included in income |  |  | 6,225 |  |  | (2,614 | ) |  | 3,611 |
Net unrealized gains |  |  | 10,247 |  |  | (4,303 | ) |  | 5,944 |
Noncredit-related impairment loss on securities |  |  | (5,091 | ) |  | 2,138 |  |  | (2,953 | )
Foreign currency translation adjustments |  |  | (1,262 | ) |  | 530 |  |  | (732 | )
Other comprehensive income |  | $ | 3,894 |  | $ | (1,635 | ) | $ | 2,259 |

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