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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2012
EARNINGS PER SHARE  
EARNINGS PER SHARE

16.  EARNINGS PER SHARE

 

The following table presents the information used to compute basic and diluted earnings per common share for the periods indicated:

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

(In thousands, except per share data)

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

10,812

 

$

8,211

 

$

24,290

 

$

12,850

 

Preferred stock dividends, accretion of discount and conversion of preferred stock to common stock

 

—

 

—

 

—

 

(83,897

)

Net income available to common shareholders

 

$

10,812

 

$

8,211

 

$

24,290

 

$

96,747

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - basic

 

41,717

 

40,700

 

41,674

 

30,059

 

Dilutive effect of employee stock options and awards

 

155

 

349

 

201

 

648

 

Dilutive effect of deferred salary restricted stock units

 

67

 

3

 

63

 

2

 

Dilutive effect of Treasury warrants

 

20

 

26

 

21

 

24

 

Weighted average shares outstanding - diluted

 

41,959

 

41,078

 

41,959

 

30,733

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

0.26

 

$

0.20

 

$

0.58

 

$

3.22

 

Diluted earnings per share

 

$

0.26

 

$

0.20

 

$

0.58

 

$

3.15

 

 

A total of 345,125 potentially dilutive securities have been excluded from the dilutive share calculation for the three and six months ended June 30, 2012, as their effect was antidilutive, compared to 41,821 for the three and six months ended June 30, 2011.