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CALCULATION OF EARNINGS PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Weighted Shares Outstanding
The following tables show the calculation of earnings (loss) per common share (in thousands, except per share data):
 
Years Ended December 31
 
2012
 
2011
 
2010
Net income (loss)
$
64,882

 
$
5,457

 
$
(61,896
)
Preferred stock dividend accrual
(4,938
)
 
(6,200
)
 
(6,200
)
Preferred stock discount accrual
(3,298
)
 
(1,701
)
 
(1,593
)
Gain on repurchase of preferred stock
2,471

 
—

 
—

Net income (loss) available to common shareholders
$
59,117

 
$
(2,444
)
 
$
(69,689
)
Weighted average number of common shares outstanding
 
 
 
 
 
Basic
18,650

 
16,724

 
9,665

Diluted
18,723

 
16,724

 
9,665

Earnings (loss) per common share
 
 
 
 
 
Basic
$
3.17

 
$
(0.15
)
 
$
(7.21
)
Diluted
$
3.16

 
$
(0.15
)
 
$
(7.21
)