Earnings per Share

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Earnings per Share

Note 3. Earnings per Share

The following reconciles shares outstanding for basic and diluted earnings per share for the three months ended March 31, 2017 and 2016 (in thousands):

	Three Months Ended March 31,
	2017		2016
Weighted average shares issued net of Treasury shares	32,318		17,304
Less: Unallocated ESOP shares	(323	)	(357	)
Unallocated incentive award shares and shares held by deferred compensation plan	(94	)	(41	)
Average basic shares outstanding	31,901		16,906
Add: Effect of dilutive securities:
Stock options	1,169		192
Shares held by deferred compensation plan	20		20
Average diluted shares outstanding	33,090		17,118

For the three months ended March 31, 2017 and 2016, antidilutive stock options of 335,000 and 1,113,000, respectively, were excluded from earnings per share calculations.