| Schedule of Basic and Diluted Earnings Per Share |
The following table sets forth the computation of basic and diluted earnings per share for the periods indicated: | | | | | | | | | | | | | | | | Year Ended December 31, | | | 2011 | | 2010 | | 2009 | | | (in thousands except per share) | Basic EPS: | | | | | | | Net income (loss) | | $ | 48,037 |
| | $ | 30,784 |
| | $ | (3,968 | ) | Less: Preferred dividends and accretion of issuance discount for preferred stock | | — |
| | (4,947) |
| | (4,403 | ) | Net income (loss) applicable to common shareholders | | $ | 48,037 |
| | $ | 25,837 |
| | $ | (8,371 | ) | Less: Earnings allocated to participating securities | | (450 | ) | | (244) |
| | (16) |
| Earnings (loss) allocated to common shareholders | | $ | 47,587 |
| | $ | 25,593 |
| | $ | (8,387 | ) | Weighted average common shares outstanding | | 39,103 |
| | 35,209 |
| | 21,854 |
| Basic earnings (loss) per common share | | $ | 1.22 |
| | $ | 0.73 |
| | $ | (0.38 | ) | Diluted EPS: | | | | | | | Earnings (loss) allocated to common shareholders (1) | | $ | 47,588 |
| | $ | 25,593 |
| | $ | (8,410 | ) | Weighted average common shares outstanding | | 39,103 |
| | 35,209 |
| | 21,854 |
| Dilutive effect of equity awards and warrants | | 77 |
| | 183 |
| | — |
| Weighted average diluted common shares outstanding (2) | | 39,180 |
| | 35,392 |
| | 21,854 |
| Diluted earnings (loss) per common share | | $ | 1.21 |
| | $ | 0.72 |
| | $ | (0.38 | ) | Potentially dilutive share options that were not included in the computation of diluted EPS because to do so would be anti-dilutive. | | 53 |
| | 54 |
| | 754 |
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