NET INCOME PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2015

NET INCOME PER COMMON SHARE [Abstract]

Components of Computation of Basic and Diluted Net Income Per Common Share

Components of the computation of basic and diluted net income per common share were as follows for the indicated periods (dollars in thousands, except per share amounts):

	Quarter Ended June 30						Six Months Ended June 30
	2015			2014			2015			2014
Basic net income per common share
Numerator for basic net income per common share:
Net income	$	24,944		$	36,564		$	58,901		$	74,955
Preferred stock dividends		(3,788	)		(3,449	)		(7,530	)		(6,687	)
Earnings participation of unvested equity awards		(33	)		(12	)		(67	)		(36	)
	$	21,123		$	33,103		$	51,304		$	68,232
Denominator for basic net income per common share:
Weighted average common stock outstanding		95,805			95,767			95,815			95,772
Average unvested stock awards outstanding		(304	)		(368	)		(330	)		(398	)
		95,501			95,399			95,485			95,374
	$	0.22		$	0.35		$	0.54		$	0.72
Diluted net income per common share
Numerator for diluted net income per common share:
Numerator for basic net income per common share	$	21,123		$	33,103		$	51,304		$	68,232
Denominator for diluted net income per common share:
Denominator for basic net income per common share		95,501			95,399			95,485			95,374
Net effect of dilutive equity awards		188			227			197			209
		95,689			95,626			95,682			95,583
	$	0.22		$	0.35		$	0.54		$	0.71