Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

10. Earnings Per Share

The following table presents the calculation of basic and diluted earnings per common share (in thousands, except per share amounts):

 

     Three Months Ended  
     March 31,  
     2012      2011  

Net income

    $ 3,218       $ 18,649   

Less portion allocated to nonvested shares

      140         372   
  

 

 

     

 

 

  

Net income allocated to common shares

    $ 3,078       $ 18,277   
  

 

 

     

 

 

  

Weighted average common shares outstanding

      74,300         74,004   
  

 

 

     

 

 

  

Basic and diluted earnings per common share

    $ 0.04       $ 0.25   

Shares excluded due to being anti-dilutive (weighted-average)

      1,765         1,714