Preferred Shares

Common Shares

Contributed

Retained

Accumulated
Other
Comprehensive

Number

Amount

Number

Amount

Surplus

Earnings

Income (Loss)

Total

Balance as of January 1, 2004

6,000,000

$

97,671

47,940,907

$

394,462

$

366

$

439,453

$

(22,862

)

$

909,090

Net income

—

—

—

—

—

454,942

—

454,942

Other comprehensive loss

—

—

—

—

—

(2,455

)

(2,455

)

Comprehensive income

452,487

Dividends on common shares

—

—

—

—

—

(9,536

)

—

(9,536

)

Issue of common shares

—

—

1,796,273

30,364

—

—

30,364

Stock based compensation

—

—

—

—

1,123

1,123

Redemption of preferred shares

(6,000,000

)

(97,671

)

—

—

—

—

—

(97,671

)

Balance as of December 31, 2004

—

—

49,737,180

424,826

1,489

884,859

(25,317

)

1,285,857

Net income

—

—

—

—

—

585,816

—

585,816

Other comprehensive loss

—

—

—

—

—

(10,529

)

(10,529

)

Comprehensive income

575,287

Dividends on common shares

—

—

—

—

—

(22,781

)

—

(22,781

)

Issue of common shares

—

—

1,068,539

21,104

—

—

—

21,104

Stock based compensation

—

—

—

—

14,059

—

—

14,059

Repurchase of common shares

—

—

(2,754,100

)

(26,658

)

—

(106,235

)

—

(132,893

)

Balance as of December 31, 2005

—

—

48,051,619

419,272

15,548

1,341,659

(35,846

)

1,740,633

Net income

—

—

—

—

—

643,114

—

643,114

Other comprehensive income

—

—

—

—

—

—

2,161

2,161

Comprehensive income

645,275

Impact of adopting FAS 158

(21,546

)

(21,546

)

Dividends on common shares

—

—

—

—

—

(32,581

)

—

(32,581

)

Issue of common shares

—

—

96,673

5,825

—

—

—

5,825

Stock based compensation

—

—

—

—

9,483

—

—

9,483

Repurchase of common shares

—

—

(934,700

)

(10,163

)

—

(77,125

)

—

(87,288

)

Balance as of December 31, 2006

—

$

—

47,213,592

$

414,934

$

25,031

$

1,875,067

$

(55,231

)

$

2,259,801