Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2013

Earnings Per Common Share [Abstract]

Reconciliation of basic and diluted loss per share

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
	(in thousands, except per share amounts)
Net income applicable to common stock	$	62,231	$	3,241	$	66,943	$	5,689
Convertible preferred stock dividends		1,157		1,092		2,252		2,148
Net income applicable to common stock for calculation of diluted earnings per share	$	63,388	$	4,333	$	69,195	$	7,837
Weighted average shares outstanding (1)		9,480		8,607		9,374		8,570
Effect of convertible preferred stock		13,953		31,987		13,953		31,987
Restricted stock units		391		140		376		140
Stock units for deferred compensation plan for non-employee directors		123		58		119		41
Effect of stock options		84		7		75		-
Weighted average shares outstanding for calculation of diluted earnings per share		24,031		40,799		23,897		40,738
Net income per common share
Basic (1)	$	6.56	$	0.38	$	7.14	$	0.66
Diluted	$	2.64	$	0.11	$	2.90	$	0.19

⁽¹⁾Basic net income per common share includes weighted average common shares outstanding during the period and participating share awards.