Earnings Per Common Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings per Common Share

The Company applies the two-class method of computing basic and diluted EPS. Under the two-class method, EPS is determined for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. The Company grants restricted shares under share-based compensation plans that qualify as participating securities.

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated:

	Year Ended December 31,
	2012			2011		2010
	(in thousands except per share)
Basic EPS:
Net income	$	46,143		$	48,037	$	30,784
Less: Preferred dividends and accretion of issuance discount for preferred stock	—			—		(4,947		)
Net income applicable to common shareholders	$	46,143		$	48,037	$	25,837
Less: Earnings allocated to participating securities	(443		)	(450)		(244)
Earnings allocated to common shareholders	$	45,700		$	47,587	$	25,593
Weighted average common shares outstanding	39,260			39,103		35,209
Basic earnings per common share	$	1.16		$	1.22	$	0.73
Diluted EPS:
Earnings allocated to common shareholders (1)	$	45,700		$	47,588	$	25,593
Weighted average common shares outstanding	39,260			39,103		35,209
Dilutive effect of equity awards and warrants	3			77		183
Weighted average diluted common shares outstanding	39,263			39,180		35,392
Diluted earnings per common share	$	1.16		$	1.21	$	0.72
Potentially dilutive share options that were not included in the computation of diluted EPS because to do so would be anti-dilutive	9			53		54