Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Schedule of Calculation of Basic and Diluted Earnings Per Share

The following table presents the calculation of basic and diluted earnings per share for the three months ended March 31, 2013 and 2012.

	For the Three Months Ended March 31,
(Dollars in thousands, except per share data)	2013			2012
Income available to common shareholders	$	717		$	19,393
Distributed earnings (distributed capital) to unvested restricted stock		(14	)		(374	)
Distributed earnings (distributed capital) to common shareholders - Basic		703			19,019
Undistributed earnings reallocated to unvested restricted stock		(6	)		10
Distributed and undistributed earnings to common shareholders - Diluted	$	697		$	19,029
Weighted average shares outstanding - Basic(1)		29,502,711			29,384,220
Weighted average shares outstanding - Diluted		28,979,168			28,928,276
Earnings per common share - Basic	$	0.02		$	0.66
Earnings per common share - Diluted	$	0.02		$	0.66
Earnings per unvested restricted stock share - Basic	$	0.03		$	0.70
Earnings per unvested restricted stock share - Diluted	$	0.04		$	0.68

(1) Weighted average basic shares outstanding include 564,543 and 535,005 shares of unvested restricted stock for the three months ended March 31, 2013 and 2012, respectively.

Schedule of Basic Earnings Per Common Share

Additional information on the Company’s basic earnings per common share is shown in the following table.

	For the Three Months Ended March 31,
(Dollars in thousands, except per share data)	2013			2012
Distributed earnings to common shareholders	$	9,896		$	9,842
Undistributed earnings (distributed capital) to common shareholders		(9,193	)		9,177
Total earnings to common shareholders	$	703		$	19,019
Distributed earnings to unvested restricted stock	$	199		$	194
Undistributed earnings (distributed capital) to unvested restricted stock		(185	)		180
Total earnings allocated to restricted stock	$	14		$	374
Distributed earnings per common share	$	0.34		$	0.34
Undistributed earnings (distributed capital) per common share		(0.32	)		0.32
Total earnings per common share - Basic	$	0.02		$	0.66
Distributed earnings per unvested restricted stock share	$	0.35		$	0.36
Undistributed earnings (distributed capital) per unvested restricted stock share		(0.33	)		0.34
Total earnings per unvested restricted stock share - Basic	$	0.02		$	0.70