| Calculations for basic and diluted earnings per common share |
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For the three months ended |
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For the six months ended |
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June 30, |
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June 30, |
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2011 |
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2010 |
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2011 |
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2010 |
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(In Thousands, except per share data) |
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Net income (loss)
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$ |
34,382 |
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$ |
(2,779 |
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$ |
57,235 |
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$ |
(29,168 |
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Preferred stock dividends and discount accretion
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(8,812 |
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(7,377 |
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(16,225 |
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(14,742 |
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Net income (loss) available to common equity
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$ |
25,570 |
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$ |
(10,156 |
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$ |
41,010 |
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$ |
(43,910 |
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Common shareholder dividends
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(1,733 |
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(1,729 |
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(3,466 |
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(3,457 |
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Unvested share-based payment awards
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(12 |
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(7 |
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(21 |
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(15 |
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Undistributed earnings
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$ |
23,825 |
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$ |
(11,892 |
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$ |
37,523 |
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$ |
(47,382 |
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Basic
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Distributed earnings to common shareholders
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$ |
1,733 |
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$ |
1,729 |
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$ |
3,466 |
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$ |
3,457 |
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Undistributed earnings to common shareholders
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23,668 |
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(11,892 |
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37,293 |
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(47,382 |
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Total common shareholders earnings, basic
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$ |
25,401 |
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$ |
(10,163 |
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$ |
40,759 |
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$ |
(43,925 |
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Diluted
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Distributed earnings to common shareholders
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$ |
1,733 |
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$ |
1,729 |
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$ |
3,466 |
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$ |
3,457 |
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Undistributed earnings to common shareholders
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23,668 |
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(11,892 |
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37,293 |
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(47,382 |
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Total common shareholders earnings, diluted
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$ |
25,401 |
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$ |
(10,163 |
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$ |
40,759 |
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$ |
(43,925 |
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Weighted average common shares outstanding
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173,323 |
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172,921 |
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173,268 |
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169,401 |
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Effect of dilutive common stock awards
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4 |
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— |
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4 |
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— |
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Diluted weighted average common shares
outstanding
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173,327 |
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172,921 |
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173,272 |
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169,401 |
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Basic earnings (loss) per common share
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$ |
0.15 |
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$ |
(0.06 |
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$ |
0.24 |
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$ |
(0.26 |
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Diluted earnings (loss) per common share
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$ |
0.15 |
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$ |
(0.06 |
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$ |
0.24 |
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$ |
(0.26 |
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