Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2014

Reconciles Numerator and Denominator of Basic and Diluted Earnings Per Share Computations for Net Income

The following table reconciles the numerator (i.e., income) and denominator (i.e., shares) of the basic and diluted earnings per share computations for the periods presented (in thousands, except per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
Numerator for EPS:
Net income	$	17,126		$	17,029		$	30,675		$	28,988
Less: Preferred stock dividends		(3	)		(5	)		(8	)		(10	)

Income available to common stockholders	$	17,123		$	17,024		$	30,667		$	28,978

Denominator for EPS:
Weighted average common shares outstanding		33,968			36,378			33,696			38,138
Plus: Assumed conversion of stock-based compensation (1)		1,171			1,448			1,697			1,134
Plus: Assumed conversion of preferred stock		35			488			57			488

Weighted average diluted common shares outstanding		35,174			38,314			35,450			39,760

Basic earnings per common share	$	0.50		$	0.47		$	0.91		$	0.76
Diluted earnings per common share	$	0.49		$	0.44		$	0.87		$	0.73

(1)	Represents the dilutive effect of unvested restricted stock and unexercised stock options.