CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS (LOSS) PER SHARE (EPS) (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Basic and Diluted Weighted Shares Outstanding

The following table reconciles basic to diluted weighted shares outstanding used to calculate earnings per share data dollars and shares (in thousands, except per share data):



	Three Months Ended June 30				Six Months Ended June 30
	2013		2012		2013		2012
Net income (loss)	$	11,753	$	25,390	$	23,336	$	34,574
Preferred stock dividend accrual	—		1,550		—		3,100
Preferred stock discount accretion	—		454		—		908
Net income (loss) available to common shareholders	$	11,753	$	23,386	$	23,336	$	30,566

Basic weighted average shares outstanding	19,333		18,404		19,323		18,052
Plus unvested restricted stock	64		40		62		34
Diluted weighted shares outstanding	19,397		18,444		19,385		18,086
Earnings (loss) per common share
Basic	$	0.61	$	1.27	$	1.21	$	1.69
Diluted	$	0.60	$	1.27	$	1.20	$	1.69