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Earnings Per Share
 6 Months Ended
Jun. 30, 2012
Earnings Per Share, Diluted, Other Disclosures [Abstract]  
Earnings Per Share
Earnings Per Share
Basic net loss per share, or basic earnings/(loss) per share (“EPS”), is computed by dividing net loss to common shareholders by the weighted average number of common shares outstanding for the period. FNB retired its preferred stock in 2011 and there were no unpaid preferred dividends or accretion of preferred stock discount at June 30, 2012. At June 30, 2011, FNB had $3.5 million of unpaid cumulative dividends on its Series A preferred stock and had $0.3 million in accretion of the discount on the preferred stock.
Diluted EPS reflects the potential dilution that could occur if FNB's potential common stock, which consists of dilutive stock options and a common stock warrant, were issued. As required for entities with complex capital structures, a dual presentation of basic and diluted EPS is included on the face of the income statement, and a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation is provided in this note.
(dollars in thousands, except per share data)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2012
 
2011
 
2012
 
2011
Net loss from continuing operations before cumulative dividends on preferred stock
 
$
(18,138
)
 
$
(46,985
)
 
$
(28,970
)
 
$
(86,999
)
Dividends on preferred stock
 
—

 
(1,087
)
 
—

 
(2,104
)
Loss from continuing operations, net of tax
 
(18,138
)
 
(48,072
)
 
(28,970
)
 
(89,103
)
Loss from discontinued operations, net of tax
 
—

 
(1,989
)
 
(27
)
 
(5,682
)
Net loss to common shareholders
 
$
(18,138
)
 
$
(50,061
)
 
$
(28,997
)
 
$
(94,785
)
Weighted average number of common shares outstanding - basic and diluted
 
21,190,848

 
114,265

 
21,146,758

 
114,256

Net loss per common share from continuing operations - basic and diluted
 
$
(0.86
)
 
$
(420.71
)
 
$
(1.37
)
 
$
(779.85
)
Net loss per common share from discontinued operations - basic and diluted
 
—

 
(17.40
)
 
—

 
(49.73
)
Net loss per common share - basic and diluted
 
(0.86
)
 
(438.11
)
 
(1.37
)
 
(829.58
)

As a result of the net loss for the three and six months ended June 30, 2012 and 2011, all stock options and the common stock warrant were considered antidilutive and thus are not included in this calculation. For the three and six months ended June 30, 2012 and 2011, there were 23,310 and 27,421 antidilutive shares, respectively. Of the antidilutive shares, the number of shares relating to stock options were 1,238 at June 30, 2012 and 5,349 June 30, 2011.
Net loss to common shareholders increased for the three months ended June 30, 2011 by $1.0 million, and for the six months ended June 30, 2011 by $2.1 million, for preferred stock dividends. Accretion on the preferred stock discount associated with the preferred stock of $0.2 million was recognized for the three months ended June 30, 2011. FNB retired its preferred stock in 2011 and there were no preferred stock dividends or accretion on the preferred stock discount for the three and six months ended June 30, 2012.