Earnings Per Share ("EPS")

Basic EPS does not reflect the possibility of dilution that could result from the issuance of additional shares of common stock upon exercise or conversion of outstanding securities, 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 three months ended March 31, 2012 and 2011, stock options and restricted shares awards for approximately 564,000 shares and 150,000 shares of common stock were excluded in computing diluted earnings per common share because they were antidilutive. Additionally, warrants to purchase 337,480 shares and 521,266 shares of common stock (related to the TARP Capital Purchase Plan) were also antidilutive and excluded for the three months ended March 31, 2012 and 2011, respectively.

The following table shows the computation of basic and diluted EPS for the three months ended March 31, 2012 and 2011.


	For the three months ended March 31,
	2012							2011
	Net income available to common stockholders (Numerator)			Shares (Denominator)		Per Share (Amount)		Net income available to common stockholders (Numerator)			Shares (Denominator)		Per Share (Amount)
	(Dollars in thousands, except share and per share data)
Net income as reported	$	23,934						$	6,746
Less: preferred stock dividends and accretion of preferred stock discount		(1,869	)						(1,075	)

Basic EPS - common stock	$	22,065			77,987,342	$	0.28	$	5,671			37,987,345	$	0.15

Effect of Dilutive Securities:
Stock Options and Performance Units					73,323							105,622
Common stock warrants					41,153							5,881

Diluted EPS - common stock	$	22,065			78,101,818	$	0.28	$	5,671			38,098,848	$	0.15