Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v2.3.0.15
Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2011
Earnings Per Share [Abstract]  
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