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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Computation Of Basic And Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2016 and 2015 (in thousands, except per share data):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Net income

 

$

17,814

 

 

$

17,179

 

 

$

54,640

 

 

$

81,164

 

Preferred dividends

 

 

1,563

 

 

 

 

 

 

1,563

 

 

 

 

Net income available to common shareholders

 

$

16,251

 

 

$

17,179

 

 

$

53,077

 

 

$

81,164

 

Shares for basic and diluted calculation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average shares used in basic computation

 

 

66,482

 

 

 

69,633

 

 

 

66,950

 

 

 

68,675

 

Dilutive effect of stock options and units (1)

 

 

11,062

 

 

 

10,126

 

 

 

9,662

 

 

 

9,651

 

Average shares used in diluted computation

 

 

77,544

 

 

 

79,759

 

 

 

76,612

 

 

 

78,326

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.24

 

 

$

0.25

 

 

$

0.79

 

 

$

1.18

 

Diluted

 

$

0.21

 

 

$

0.22

 

 

$

0.69

 

 

$

1.04

 

 

1

Diluted earnings per share is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method.