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Earning Per Common Share (Tables)

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

NOTE 17 – EARNINGS (LOSS) PER COMMON SHARE

The calculation of earnings (loss) per common share for the quarters and nine-month periods ended September 30, 2016 and 2015 is as follows:

	Quarter Ended September 30,						Nine-Month Period Ended September 30,
	2016			2015			2016			2015
	(In thousands, except per share data)						(In thousands, except per share data)
Net income (loss)	$	15,120		$	4,569		$	43,630		$	(1,528)
Less: Dividends on preferred stock
Non-convertible preferred stock (Series A, B, and D)		(1,627)			(1,627)			(4,883)			(4,884)
Convertible preferred stock (Series C)		(1,838)			(1,838)			(5,513)			(5,512)
Income (loss) available to common shareholders	$	11,655		$	1,104		$	33,234		$	(11,924)
Effect of assumed conversion of the convertible preferred stock		1,838			1,838			5,513			5,512
Income (loss) available to common shareholders assuming conversion	$	13,493		$	2,942		$	38,747		$	(6,412)

Weighted average common shares and share equivalents:
Average common shares outstanding		43,926			43,929			43,913			44,353
Effect of dilutive securities:
Average potential common shares-options		47			46			40			85
Average potential common shares-assuming conversion of convertible preferred stock		7,138			7,171			7,138			7,171
Total weighted average common shares outstanding and equivalents		51,111			51,146			51,091			51,609
Earnings (loss) per common share - basic	$	0.27		$	0.03		$	0.76		$	(0.27)
Earnings (loss) per common share - diluted	$	0.26		$	0.03		$	0.76		$	(0.27)