Quarterly report pursuant to sections 13 or 15(d)

9. EARNINGS PER SHARE.

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9. EARNINGS PER SHARE.
 6 Months Ended
Jun. 30, 2011
Earnings Per Share [Text Block]
9.
EARNINGS PER SHARE.

The following tables compute basic and diluted earnings per share (in thousands, except per share data):

   
Three Months Ended June 30, 2011
 
   
Income Numerator
   
Shares
Denominator
   
Per-Share
Amount
 
Net income
  $ 750              
Less: Preferred stock dividends
    (315 )            
Basic and diluted loss per share:
                   
Income available to common stockholders
  $ 435       16,768     $ 0.03  

   
Three Months Ended June 30, 2010
 
   
Income Numerator
   
Shares Denominator
   
Per-Share Amount
 
Net income
  $ 108,552              
Less:  Preferred stock dividends
    (798 )            
Basic income per share:
                   
Income available to common stockholders
  $ 107,754       9,842     $ 10.95  
Add:  Preferred stock dividends
    798       1,005          
Diluted income per share:
                       
Income available to common stockholders
  $ 108,552       10,847     $ 10.01  

   
Six Months Ended June 30, 2011
 
   
Income Numerator
   
Shares Denominator
   
Per-Share Amount
 
Net income
  $ 768              
Less: Preferred stock dividends
    (627 )            
Basic and diluted loss per share:
                   
Income available to common stockholders
  $ 141       15,183     $ 0.01  

   
Six Months Ended June 30, 2010
 
   
Income Numerator
   
Shares Denominator
   
Per-Share Amount
 
Net income
  $ 97,657              
Less:  Preferred stock dividends
    (1,588 )            
Basic income per share:
                   
Income available to common stockholders
  $ 96,069       9,057     $ 10.61  
Add:  Preferred stock dividends
    1,588       1,005          
Diluted income per share:
                       
Income available to common stockholders
  $ 97,657       10,062     $ 9.71  

There were an aggregate of 11,276,000 and 23,476,000 potentially dilutive weighted-average shares from convertible securities outstanding for the three and six months ended June 30, 2011, respectively. These convertible securities were not considered in calculating diluted net loss per share for the three and six months ended June 30, 2011, as their effect would have been anti-dilutive.