Earnings per Share

12 Months Ended

Dec. 31, 2015

19. Earnings per Share

The following tables set forth the computation of basic and diluted earnings per common share:


Year Ended December 31	2015		2014		2013
Net income	$	159,649	$	144,050	$	117,804
Less: Preferred stock dividends		8,041		8,352		—

Net income available to common stockholders	$	151,608	$	135,698	$	117,804

Basic weighted average common shares outstanding		174,971,785		167,347,906		146,186,982
Net effect of dilutive stock options, warrants, restricted stock and convertible debt		1,367,168		1,730,939		1,622,522

Diluted weighted average common shares outstanding		176,338,953		169,078,845		147,809,504

Basic earnings per common share	$	0.87	$	0.81	$	0.81

Diluted earnings per common share	$	0.86	$	0.80	$	0.80

For the years ended December 31, 2015, 2014 and 2013, 18,167, 35,442 and 49,995 shares of common stock, respectively, related to stock options and warrants were excluded from the computation of diluted earnings per share because the exercise price of the shares was greater than the average market price of the common shares and therefore, the effect would be antidilutive.