NET INCOME PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2018

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):

	Quarter Ended						Nine Months Ended
	September 30						September 30
	2018			2017			2018			2017
Basic net income per common share
Numerator for basic net income per common share:
Net income	$	8,680		$	16,752		$	41,088		$	57,002
Preferred stock dividends		(4,842	)		(4,718	)		(14,526	)		(12,600	)
Earnings participation of unvested equity awards		(24	)		(36	)		(84	)		(116	)
	$	3,814		$	11,998		$	26,478		$	44,286
Denominator for basic net income per common share:
Average number of shares of common stock outstanding		91,659			96,094			92,649			96,073
Average unvested stock awards outstanding		(453	)		(302	)		(447	)		(305	)
		91,206			95,792			92,202			95,768
	$	0.04		$	0.13		$	0.29		$	0.46
Diluted net income per common share
Numerator for diluted net income per common share:
Numerator for basic net income per common share	$	3,814		$	11,998		$	26,478		$	44,286
Denominator for diluted net income per common share:
Denominator for basic net income per common share		91,206			95,792			92,202			95,768
Net effect of dilutive equity awards		140			131			115			137
		91,346			95,923			92,317			95,905
	$	0.04		$	0.13		$	0.29		$	0.46