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EARNINGS PER SHARE
 9 Months Ended
Sep. 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

 

Nine Months Ended

 

 

 

September 30,

 

September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

(In thousands, except per share data)

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

10,721

 

$

11,626

 

$

35,011

 

$

24,476

 

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

 

—

 

—

 

—

 

(83,897

)

Net income available to common shareholders

 

$

10,721

 

$

11,626

 

$

35,011

 

$

108,373

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - basic

 

41,764

 

41,625

 

41,704

 

33,957

 

Dilutive effect of employee stock options and awards

 

166

 

14

 

172

 

286

 

Dilutive effect of deferred salary restricted stock units

 

64

 

19

 

64

 

7

 

Dilutive effect of Treasury warrants

 

22

 

14

 

21

 

22

 

Weighted average shares outstanding - diluted

 

42,016

 

41,672

 

41,961

 

34,272

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

0.26

 

$

0.28

 

$

0.84

 

$

3.19

 

Diluted earnings per share

 

$

0.26

 

$

0.28

 

$

0.83

 

$

3.16

 

 

A total of 300,713 and 300,869 potentially dilutive securities have been excluded from the dilutive share calculation for the three and nine months ended September 30, 2012, respectively, as their effect was antidilutive, compared to 41,724 for the three and nine months ended September 30, 2011.