| Computation of Basic and Diluted Earnings Per Common Share |
The following table sets forth the computation of basic and diluted
earnings per common share:
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Three Months
Ended |
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Six Months
Ended |
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June 30, |
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June 30, |
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| (dollars in thousands, except per share
data) |
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2016 |
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2015 |
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2016 |
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2015 |
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Net income
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$ |
41,300 |
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$ |
40,131 |
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$ |
67,432 |
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$ |
80,474 |
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Less: Preferred stock dividends
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2,010 |
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2,010 |
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4,020 |
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4,020 |
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Net income available to common stockholders
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$ |
39,290 |
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$ |
38,121 |
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$ |
63,412 |
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$ |
76,454 |
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Basic weighted average common shares outstanding
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210,106,985 |
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174,940,911 |
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201,846,343 |
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174,548,775 |
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Net effect of dilutive stock options, warrants, restricted
stock and convertible debt
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1,568,464 |
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1,420,929 |
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1,425,062 |
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1,547,420 |
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Diluted weighted average common shares outstanding
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211,675,449 |
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176,361,840 |
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203,271,405 |
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176,096,195 |
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Earnings per common share:
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Basic
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$ |
0.19 |
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$ |
0.22 |
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$ |
0.31 |
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$ |
0.44 |
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Diluted
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$ |
0.19 |
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$ |
0.22 |
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$ |
0.31 |
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$ |
0.43 |
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| Schedule of Shares Excluded from Diluted Net Income per Common Share Calculation |
The following table shows the shares excluded from the diluted net
income per common share calculation as their effect would have been
anti-dilutive:
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Three Months Ended |
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Six Months
Ended |
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June 30, |
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June 30, |
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2016 |
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2015 |
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2016 |
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2015 |
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Shares excluded from the diluted net income per common share
calculation
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11,971 |
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17,918 |
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13,583 |
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20,984 |
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