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NET INCOME PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2017
Earnings Per 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): 

 

 

 

Year ended December 31

 

 

 

2017

 

 

2016

 

 

2015

 

Basic net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

79,589

 

 

$

82,873

 

 

$

108,325

 

Preferred stock dividends

 

 

(17,442

)

 

 

(15,372

)

 

 

(15,160

)

Earnings participation of unvested equity awards

 

 

(150

)

 

 

(140

)

 

 

(123

)

 

 

$

61,997

 

 

$

67,361

 

 

$

93,042

 

Denominator for basic net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Average number of shares of common stock outstanding

 

 

96,023

 

 

 

95,957

 

 

 

95,817

 

Average unvested stock awards outstanding

 

 

(305

)

 

 

(301

)

 

 

(308

)

 

 

 

95,718

 

 

 

95,656

 

 

 

95,509

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

0.65

 

 

$

0.70

 

 

$

0.97

 

Diluted net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for diluted net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic net income per common share

 

$

61,997

 

 

$

67,361

 

 

$

93,042

 

Denominator for diluted net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic net income per common share

 

 

95,718

 

 

 

95,656

 

 

 

95,509

 

Net effect of dilutive equity awards

 

 

125

 

 

 

163

 

 

 

192

 

 

 

 

95,843

 

 

 

95,819

 

 

 

95,701

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

0.65

 

 

$

0.70

 

 

$

0.97