NET INCOME (LOSS) PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2019

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 (loss) 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
	2019			2018			2019			2018
Basic net income (loss) per common share
Numerator for basic net income (loss) per common share:
Net income (loss)	$	3,196		$	8,680		$	(68,010	)	$	41,088
Preferred stock dividends		(4,842	)		(4,842	)		(14,526	)		(14,526	)
Earnings participation of unvested equity awards		(25	)		(24	)		(69	)		(84	)
	$	(1,671	)	$	3,814		$	(82,605	)	$	26,478
Denominator for basic net income (loss) per common share:
Average number of shares of common stock outstanding		91,560			91,659			87,578			92,649
Average unvested stock awards outstanding		(615	)		(453	)		(632	)		(447	)
		90,945			91,206			86,946			92,202
	$	(0.02	)	$	0.04		$	(0.95	)	$	0.29
Diluted net income (loss) per common share
Numerator for diluted net income (loss) per common share	$	(1,671	)	$	3,814		$	(82,605	)	$	26,478
Denominator for diluted net income (loss) per common share:
Denominator for basic net income (loss) per common share		90,945			91,206			86,946			92,202
Net effect of dilutive equity awards		–			140			–			115
		90,945			91,346			86,946			92,317
	$	(0.02	)	$	0.04		$	(0.95	)	$	0.29