Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2015

Net Income Per Common Share

Schedule of basic and diluted net income per share

The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):

	Three Months Ended
	March 31,
	2015		2014
Net income	$	17,552	$	17,004
Less net income allocated to participating securities:
Non-forfeitable dividends on participating securities		(123)		(103)
Total net income allocated to participating securities		(123)		(103)
Less net income allocated to preferred stockholders:
Preferred stock dividends		(818)		(818)
Total net income allocated to preferred stockholders		(818)		(818)
Net income available to common stockholders		16,611		16,083
Effect of dilutive securities:
Convertible preferred securities		818		818
Total effect of dilutive securities		818		818
Net income for diluted net income per share	$	17,429	$	16,901
Shares for basic net income per share		35,277		34,586
Effect of dilutive securities:
Stock options		15		25
Convertible preferred securities		2,000		2,000
Total effect of dilutive securities		2,015		2,025
Shares for diluted net income per share		37,292		36,611
Basic net income per share	$	0.47	$	0.47
Diluted net income per share	$	0.47	$	0.46