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CALCULATION OF EARNINGS PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2013
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
 
2013
 
2012
 
2011
Net income
$
46,555

 
$
64,882

 
$
5,457

Preferred stock dividend accrual
—

 
(4,938
)
 
(6,200
)
Preferred stock discount accretion
—

 
(3,298
)
 
(1,701
)
Gain on repurchase of preferred stock
—

 
2,471

 
—

Net income (loss) available to common shareholders
$
46,555

 
$
59,117

 
$
(2,444
)
Weighted average number of common shares outstanding
 
 
 
 
 
Basic
19,361

 
18,650

 
16,724

Diluted
19,397

 
18,723

 
16,753

Earnings (loss) per common share
 
 
 
 
 
Basic
$
2.40

 
$
3.17

 
$
(0.15
)
Diluted
$
2.40

 
$
3.16

 
$
(0.15
)