Annual report pursuant to Section 13 and 15(d)

EARNINGS PER COMMON SHARE (Tables)

v2.4.0.6
EARNINGS PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2012
EARNINGS PER COMMON SHARE [Abstract]  
Reconciliation of numerators and denominators of basic and diluted earnings per common share
A reconciliation of the numerators and denominators of basic and diluted earnings per common share are as follows (dollars in thousands except per share data):
 
   
2012
    
2011
  
             
Net income
   $ 35,490     $ 5,829  
Dividends declared on preferred shares
     ---       ---  
Net income available to common shares
   $ 35,490     $ 5,829  
                 
Weighted average shares outstanding, including restricted stock awards – Basic
     27,086,792       22,739,990  
Dilutive potential common shares:
                
Stock options
     ---       ---  
Conversion of preferred stock
     ---       ---  
Stock warrants
     ---       ---  
Weighted average shares outstanding – Diluted
     27,086,792       22,739,990  
                 
Basic earnings per common share
   $ 1.31     $ .26  
Diluted earnings per common share (1)
     1.31       .26