SHAREHOLDERS' EQUITY AND INCOME PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2015

SHAREHOLDERS' EQUITY AND INCOME PER COMMON SHARE [Abstract]

Reconciliation of basic and diluted loss per share

A reconciliation of basic and diluted net income per common share for the years ended December 31 follows:

	2015		2014		2013
	(In thousands, except per share amounts)
Net income applicable to common stock	$	20,017	$	18,021	$	82,062
Convertible preferred stock dividends		—		—		3,001
Preferred stock discount		—		—		(7,554	)
Net income applicable to common stock for calculation of diluted earnings per share	$	20,017	$	18,021	$	77,509
Weighted average shares outstanding (1)		22,716		22,927		13,970
Restricted stock units		233		306		363
Effect of stock options		119		124		92
Stock units for deferred compensation plan for non-employee directors		112		114		125
Effect of convertible preferred stock		—		—		7,314
Weighted average shares outstanding for calculation of diluted earnings per share		23,180		23,471		21,864
Net income per common share
Basic (1)	$	0.88	$	0.79	$	5.87
Diluted	$	0.86	$	0.77	$	3.55

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