| Basic and diluted earnings loss per share |
The calculation of basic and diluted earnings per share for each of the three-month and nine-month periods ended September 30, 2011 and 2010, was as follows
| |
|
Three Months Ended |
|
Nine Months Ended |
| |
|
|
September 30, |
|
|
September 30, |
| (dollar amounts in thousands, except per share amounts) |
|
2011 |
|
|
2010 |
|
|
2011 |
|
|
2010 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic earnings per common share: |
|
|
|
|
|
|
|
|
|
|
|
| Net income |
$ |
143,391 |
|
$ |
100,946 |
|
$ |
415,755 |
|
$ |
189,447 |
| Preferred stock dividends, deemed dividend and accretion of discount |
|
(7,703) |
|
|
(29,495) |
|
|
(23,110) |
|
|
(88,278) |
| |
Net income available to common shareholders |
$ |
135,688 |
|
$ |
71,451 |
|
$ |
392,645 |
|
$ |
101,169 |
| Average common shares issued and outstanding |
|
863,911 |
|
|
716,911 |
|
|
863,542 |
|
|
716,604 |
| Basic earnings per common share |
$ |
0.16 |
|
$ |
0.10 |
|
$ |
0.45 |
|
$ |
0.14 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted earnings per common share |
|
|
|
|
|
|
|
|
|
|
|
| Net income available to common shareholders |
$ |
135,688 |
|
$ |
71,451 |
|
$ |
392,645 |
|
$ |
101,169 |
| Effect of assumed preferred stock conversion |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
| |
Net income applicable to diluted earnings per share |
$ |
135,688 |
|
$ |
71,451 |
|
$ |
392,645 |
|
$ |
101,169 |
| Average common shares issued and outstanding |
|
863,911 |
|
|
716,911 |
|
|
863,542 |
|
|
716,604 |
| Dilutive potential common shares: |
|
|
|
|
|
|
|
|
|
|
|
| |
Stock options and restricted stock units and awards |
|
2,646 |
|
|
1,764 |
|
|
2,938 |
|
|
1,711 |
| |
Shares held in deferred compensation plans |
|
1,076 |
|
|
892 |
|
|
966 |
|
|
867 |
| |
Conversion of preferred stock |
|
--- |
|
|
--- |
|
|
--- |
|
|
--- |
| Dilutive potential common shares: |
|
3,722 |
|
|
2,656 |
|
|
3,904 |
|
|
2,578 |
| |
Total diluted average common shares issued and outstanding |
|
867,633 |
|
|
719,567 |
|
|
867,446 |
|
|
719,182 |
| Diluted earnings per common share |
$ |
0.16 |
|
$ |
0.10 |
|
$ |
0.45 |
|
$ |
0.14 |
|