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EARNINGS PER COMMON SHARE (Tables)
6 Months Ended
Jun. 30, 2011
Computation of Basic and Diluted Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share:
 
   
Three months ended
   
Six months ended
 
   
June 30,
   
June 30,
 
(Dollars in thousands, except per share data)
 
2011
   
2010
   
2011
   
2010
 
Numerator for basic and diluted earnings per share -income available to common shareholders:
                       
Net income
  $ 15,973     $ 17,774     $ 33,180     $ 29,372  
Dividends on preferred stock
    0       0       0       1,865  
Income available to common shareholders
  $ 15,973     $ 17,774     $ 33,180     $ 27,507  
Denominator for basic earnings per share - weighted average shares
    57,694,792       57,539,901       57,642,970       56,356,877  
Effect of dilutive securities —
                               
Employee stock awards
    945,250       944,176       974,958       893,621  
Warrants
    94,620       119,962       104,520       114,824  
Denominator for diluted earnings per share - adjusted weighted average shares
    58,734,662       58,604,039       58,722,448       57,365,322  
Earnings per share available to common shareholders
                               
Basic
  $ 0.28     $ 0.31     $ 0.58     $ 0.49  
Diluted
  $ 0.27     $ 0.30     $ 0.57     $ 0.48