| EARNINGS PER COMMON SHARE |
NOTE 20. EARNINGS PER COMMON SHARE Basic earnings per common share are computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options and warrants, as well as the common shares issuable upon conversion of the Company’s 6% Mandatory Convertible Trust Preferred Securities due March 15, 2040.
| | | Years Ended December 31, | | | | | 2013 | | 2012 | | 2011 | | | | | (Dollar Amounts In Thousands Except Per Share Amounts) | | | Earnings Per Share | | | | | | | | | | | | Weighted average common shares outstanding | | | 6,869,071 | | | 5,996,437 | | | 5,759,524 | | | Net income available to common stockholders | | $ | 41,217 | | $ | 34,045 | | $ | 23,238 | | | Basic earnings per common share | | $ | 6.00 | | $ | 5.68 | | | 4.03 | | | | | | | | | | | | | | | Weighted average common shares outstanding | | | 6,869,071 | | | 5,996,437 | | | 5,759,524 | | | Dilutive effects of assumed conversions and | | | | | | | | | | | | exercise of stock options and warrants | | | 399,604 | | | 945,315 | | | 989,639 | | | Weighted average common and dilutive potential | | | | | | | | | | | | common shares outstanding | | | 7,268,675 | | | 6,941,752 | | | 6,749,163 | | | Net income available to common stockholders | | $ | 41,217 | | $ | 34,045 | | $ | 23,238 | | | Effect of interest expense on convertible debt, net of tax | | | | | | | | | | | | and discretionary expenditures related to conversion | | $ | 115 | | $ | 569 | | $ | 568 | | | Net income available to common stockholders, adjusted | | | | | | | | | | | | for effect of debt conversion | | $ | 41,332 | | $ | 34,614 | | $ | 23,806 | | | Diluted earnings per common share | | $ | 5.69 | | $ | 4.99 | | $ | 3.53 | |
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