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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
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
March 31,
 
     2014     2013  

Numerator for EPS:

    

Net income

   $ 13,549      $ 11,959   

Less: Preferred stock dividends

     (5     (5
  

 

 

   

 

 

 

Income available to common stockholders

   $ 13,544      $ 11,954   
  

 

 

   

 

 

 

Denominator for EPS:

    

Weighted average common shares outstanding

     33,422        39,917   

Plus: Assumed conversion of stock-based compensation (1)

     2,140        793   

Assumed conversion of preferred stock

     79        489   
  

 

 

   

 

 

 

Weighted average diluted common shares outstanding

     35,641        41,199   
  

 

 

   

 

 

 

Basic earnings per common share

   $ 0.41      $ 0.30   

Diluted earnings per common share

   $ 0.38      $ 0.29   

 

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