15. EARNINGS PER SHARE

EPS information is as follows for the years ended December 31:


	Income (Numerator)			Shares (Denominator)		Per Share Amount
	(In thousands, except share and per share data)
2011
Net Income as reported	$	27,115
Less: preferred stock dividends and accretion of preferred stock discount		(4,568	)

Basic EPS—common stock	$	22,547			42,187,110	$	0.53

Effect of dilutive securities:
Stock options		0			23,490

Diluted EPS—common stock	$	22,547			42,210,600	$	0.53

2010
Net loss as reported	$	(7,239	)
Less: preferred stock dividends and accretion of preferred stock discount		(4,291	)

Basic EPS—common stock	$	(11,530	)		37,919,340	$	(0.30	)

Effect of dilutive securities:
Stock options		0			0

Diluted EPS—common stock	$	(11,530	)		37,919,340	$	(0.30	)

2009
Net loss as reported	$	(5,723	)
Less: preferred stock dividends and accretion of preferred stock discount		(4,276	)

Basic EPS—common stock	$	(9,999	)		28,359,496	$	(0.35	)

Effect of dilutive securities:
Stock options		0			0

Diluted EPS—common stock	$	(9,999	)		28,359,496	$	(0.35	)

Basic EPS excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted to common stock that would then share in our earnings. For the years ended December 31, 2011, 2010 and 2009, stock options and restricted shares awards for approximately 414,000, 533,000 and 1,092,000 shares of common stock were excluded in computing diluted earnings per common share because they were antidilutive. Additionally, warrants to purchase 858,746, 521,266 and 521,266 shares of common stock were also antidilutive for years ended December 31, 2011, 2010 and 2009, respectively.