Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share (Tables)

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Earnings Per Common Share (Tables)
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Calculation of earnings per common share and diluted earnings per common share
The calculation of earnings per common share (EPS) and diluted EPS for the three months ended March 31, 2013 and 2012 is presented below. See Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K for additional information on the calculation of EPS.

 
Three Months Ended March 31
(Dollars in millions, except per share information; shares in thousands)
2013
 
2012
Earnings per common share
 
 
 
Net income
$
1,483

 
$
653

Preferred stock dividends
(373
)
 
(325
)
Net income applicable to common shareholders
1,110

 
328

Dividends and undistributed earnings allocated to participating securities
—

 
(1
)
Net income allocated to common shareholders
$
1,110

 
$
327

Average common shares issued and outstanding
10,798,975

 
10,651,367

Earnings per common share
$
0.10

 
$
0.03

 
 
 
 
Diluted earnings per common share
 
 
 
Net income applicable to common shareholders
$
1,110

 
$
328

Dividends and undistributed earnings allocated to participating securities
—

 
(1
)
Net income allocated to common shareholders
$
1,110

 
$
327

Average common shares issued and outstanding
10,798,975

 
10,651,367

Dilutive potential common shares (1)
355,803

 
110,550

Total diluted average common shares issued and outstanding
11,154,778

 
10,761,917

Diluted earnings per common share
$
0.10

 
$
0.03

(1) 
Includes incremental shares from restricted stock units, restricted stock, stock options and warrants