Earnings Per Share ("EPS")

12 Months Ended

Dec. 31, 2013

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 years ended December 31, 2013, 2012 and 2011, stock options and restricted shares awards for approximately 147 thousand, 559 thousand and 414 thousand shares of common stock, respectively, were excluded in computing diluted earnings per common share because they were antidilutive. Additionally, warrants to purchase 18 thousand, 338 thousand and 859 thousand shares of common stock (related to the TARP Capital Purchase Plan) were antidilutive and excluded for the year ended December 31, 2013, 2012 and 2011, respectively.

The following table shows the computation of basic and diluted EPS for the years ended December 31, 2013, 2012 and 2011:



	Net income available to common stockholders (Numerator)			Shares (Denominator)	Per Share (Amount)
	(In thousands, except share and per share data)
2013
Net income as reported	$	81,755
Less: preferred stock dividends and accretion of preferred stock discount	—
Basic EPS - common stock	$	81,755		79,036,729	$	1.03
Effect of Dilutive Securities:
Stock Options and Performance Units				179,542
Common stock warrants				44,432
Diluted EPS - common stock	$	81,755		79,260,703	$	1.03

2012
Net income as reported	$	83,223
Less: preferred stock dividends and accretion of preferred stock discount	(5,640		)
Basic EPS - common stock	$	77,583		78,012,253	$	0.99
Effect of Dilutive Securities:
Stock Options and Performance Units				78,863
Common stock warrants				—
Diluted EPS - common stock	$	77,583		78,091,116	$	0.99

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 and Performance Units				23,490
Common stock warrants				—
Diluted EPS - common stock	$	22,547		42,210,600	$	0.53

- Definition

The entire disclosure for earnings per share.

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