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Earnings Per Common Share | 9 Months Ended
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Sep. 30, 2018
Earnings Per Share [Abstract] |
Earnings Per Share Text Block | NOTE 18 – EARNINGS PER COMMON SHARE The calculation of earnings per common share for the quarters and nine-month periods ended September 30, 2018 and 2017 is as follows:
| Quarter Ended September 30, |  | Nine-Month Period Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (In thousands, except per share data)
Net income | $ | 23,100 |  | $ | 3,319 |  | $ | 59,666 |  | $ | 35,573
Less: Dividends on preferred stock |  |  |  |  |  |  |  |  |  |  |
Non-convertible preferred stock (Series A, B, and D) |  | (1,628) |  |  | (1,627) |  |  | (4,883) |  |  | (4,883)
Convertible preferred stock (Series C) |  | (1,838) |  |  | (1,838) |  |  | (5,513) |  |  | (5,513)
Income available to common shareholders | $ | 19,634 |  | $ | (146) |  | $ | 49,270 |  | $ | 25,177
Effect of assumed conversion of the convertible preferred stock |  | 1,838 |  |  | 1,838 |  |  | 5,513 |  |  | 5,513
Income available to common shareholders assuming conversion | $ | 21,472 |  | $ | 1,692 |  | $ | 54,783 |  | $ | 30,690
Weighted average common shares and share equivalents: |  |  |  |  |  |  |  |  |  |  |
Average common shares outstanding |  | 43,996 |  |  | 43,947 |  |  | 43,975 |  |  | 43,937
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Average potential common shares-options |  | 209 |  |  | 17 |  |  | 110 |  |  | 20
Average potential common shares-assuming conversion of convertible preferred stock |  | 7,259 |  |  | 7,138 |  |  | 7,259 |  |  | 7,138
Total weighted average common shares outstanding and equivalents |  | 51,464 |  |  | 51,102 |  |  | 51,344 |  |  | 51,095
Earnings per common share - basic | $ | 0.45 |  | $ | - |  | $ | 1.12 |  | $ | 0.57
Earnings per common share - diluted | $ | 0.42 |  | $ | - |  | $ | 1.07 |  | $ | 0.56
In computing diluted earnings per common share, the 84,000 shares of convertible preferred stock, which remain outstanding at September 30, 2018, with a conversion rate, subject to certain conditions, of 86.4225 shares of common stock per share, were included as average potential common shares from the date they were issued and outstanding. Moreover, in computing diluted earnings per common share, the dividends declared during the quarters and nine-month periods ended September 30, 2018 and 2017 on the convertible preferred stock were added back as income available to common shareholders. For the quarters ended September 30, 2018 and 2017, weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to 307,925 and 922,601, respectively. For the nine-month period ended September 30, 2018 and 2017, weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to 435,950 and 935,740, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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