XML 62 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share ("EPS")
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share ("EPS")
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 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 September 30, 2014 and 2013, stock options and restricted shares awards for 111,256 shares and 126,116 shares of common stock, respectively, were excluded in computing diluted earnings per common share because they were antidilutive. For the nine months ended September 30, 2014 and 2013, stock options and restricted shares awards for 90,821 shares and 171,350 shares of common stock, respectively, were excluded in computing diluted earnings per common share because they were antidilutive. Additionally, warrants, issued pursuant to the Company's participation in the U.S. Treasury's TARP Capital Purchase Plan, to purchase 18,607 shares and 18,208 shares of common stock were antidilutive and excluded for the three and nine months ended September 30, 2014 and 2013, respectively.
The following tables show the computation of basic and diluted EPS for the three and nine months ended September 30, 2014 and 2013.
 
 
Three Months Ended September 30,
 
2014

2013
 
Net income
(Numerator)
 
Weighted-Average Shares
(Denominator)
 
Per
Share
(Amount)
 
Net income
(Numerator)
 
Weighted-Average Shares
(Denominator)
 
Per
Share
(Amount)
 
(In thousands, except share and per share data)
Basic EPS - common stock
$
21,420

 
79,493,917

 
$
0.27

 
$
23,552

 
79,223,636

 
$
0.30

Effect of dilutive securities:
 
 
 
 
 
 
 
 
 
 
 
Stock options and performance units
 
 
36,044

 
 
 
 
 
60,188

 
 
Common stock warrants
 
 
71,114

 
 
 
 
 
51,041

 
 
Diluted EPS - common stock
$
21,420

 
79,601,075

 
$
0.27

 
$
23,552

 
79,334,865

 
$
0.30


 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30,
 
2014
 
2013
 
Net income
available to
common
stockholders
(Numerator)
 
Weighted-Average Shares
(Denominator)
 
Per
Share
(Amount)
 
Net income
available to
common
stockholders
(Numerator)
 
Weighted-Average Shares
(Denominator)
 
Per
Share
(Amount)
 
(In thousands, except share and per share data)
Basic EPS - common stock
$
65,928

 
79,486,958

 
$
0.83

 
$
63,684

 
78,914,360

 
$
0.81

Effect of Dilutive Securities:
 
 
 
 
 
 
 
 
 
 
 
Stock Options and Performance Units
 
 
46,749

 
 
 
 
 
179,206

 
 
Common stock warrants
 
 
83,610

 
 
 
 
 
28,494

 
 
Diluted EPS - common stock
$
65,928

 
79,617,317

 
$
0.83

 
$
63,684

 
79,122,060

 
$
0.80