Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2013

Reconciles Numerator and Denominator of Basic and Diluted Earnings Per Share Computations for Net Income

The following table reconciles the numerator (i.e., income) and denominator (i.e., shares) of the basic and diluted earnings per share computations for the periods presented (in thousands, except per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Numerator for EPS:
Net income	$	17,029		$	7,777		$	28,988		$	17,650
Less: Preferred stock dividends		(5	)		(5	)		(10	)		(259	)

Income available to common stockholders	$	17,024		$	7,772		$	28,978		$	17,391


Denominator for EPS:
Weighted average common shares outstanding		36,378			39,668			38,138			39,528
Plus: Assumed conversion of stock-based compensation (1)		1,448			221			1,134			444
Assumed conversion of preferred stock		488			488			488			488

Weighted average diluted common shares outstanding		38,314			40,377			39,760			40,460


Basic earnings per common share	$	0.47		$	0.20		$	0.76		$	0.44
Diluted earnings per common share	$	0.44		$	0.19		$	0.73		$	0.44

(1)	Represents the dilutive effect of unvested restricted stock and unexercised stock options.