Earning Per Common Share (Tables)

3 Months Ended

Mar. 31, 2017

The calculation of earnings per common share for the quarters ended March 31, 2017 and 2016 is as follows:

	Quarter Ended March 31,
	2017		2016
	(In thousands, except per share data)
Net income	$	15,150	$	14,171
Less: Dividends on preferred stock
Non-convertible preferred stock (Series A, B, and D)		(1,627)		(1,627)
Convertible preferred stock (Series C)		(1,838)		(1,838)
Income available to common shareholders	$	11,685	$	10,706
Effect of assumed conversion of the convertible ' ' preferred stock		1,838		1,838
Income available to common shareholders assuming conversion	$	13,523	$	12,544

Weighted average common shares and share equivalents:
Average common shares outstanding		43,916		43,898
Effect of dilutive securities:
Average potential common shares-options		77		28
Average potential common shares-assuming ' ' conversion of convertible preferred stock		7,138		7,138
Total weighted average common shares ' 'outstanding and equivalents		51,131		51,064
Earnings per common share - basic	$	0.27	$	0.24
Earnings per common share - diluted	$	0.26	$	0.24