Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Numerator and denominator of the basic and diluted earnings per common share computations

The factors used in the earnings per share computation follow: 

	Three Months Ended September 30,					Nine Months Ended September 30,
(In thousands, except per share data)	2016			2015		2016			2015
Net income	$	10,732		$	24,467	$	59,701		$	61,326
Net income allocated to participating securities	36			—		78			—
Net income allocated to common shareholders (1)	$	10,696		$	24,467	$	59,623		$	61,326
Weighted average common shares - issued	49,107			38,123		41,881			35,384
Average unvested restricted share awards	(163		)	—		(55		)	—
Weighted average common shares outstanding - basic	48,944			38,123		41,826			35,384
Effect of dilutive securities
Weighted average common stock equivalents	687			270		493			246
Weighted average common shares outstanding - diluted	49,631			38,393		42,319			35,630
EPS available to common shareholders
Basic earnings per common share	$	0.22		$	0.64	$	1.43		$	1.73
Diluted earnings per common share	$	0.21		$	0.64	$	1.40		$	1.72

(1) Net income allocated to common shareholders for basic and diluted earnings per share may differ under the two-class method as a result of adding common share equivalents for options and warrants to dilutive shares outstanding, which alters the ratio used to allocate net income to common shareholders and participating securities for the purposes of calculating diluted earnings per share.