Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per share:



(Dollars in thousands, except share and per share data)	2017		2016		2015
Numerator
Net income	$	96,787	$	88,526	$	75,063

Denominator
Basic earnings per common share - weighted average shares	61,529,460		61,206,093		61,062,657
Effect of dilutive securities
Employee stock awards	581,329		729,335		670,282
Warrants	60,801		49,994		114,608
Diluted earnings per common share - adjusted weighted average shares	62,171,590		61,985,422		61,847,547

Earnings per share available to common shareholders
Basic	$	1.57	$	1.45	$	1.23
Diluted	$	1.56	$	1.43	$	1.21

Warrants to purchase 104,200, 114,678 and 322,312 shares of the Company's common stock were outstanding as of December 31, 2017, 2016 and 2015, respectively. These warrants, each representing the right to purchase one share of common stock, no par value per share, have an exercise price of $12.12 and expire on December 23, 2018.

Stock options and warrants, with an exercise price greater than the average market price of the common shares, were not included in the computation of net income per diluted share as they would have been antidilutive. Using the period end price, there were no antidilutive options at December 31, 2017, 2016, or 2015.

As of December 31, 2017, 2016, and 2015, no preferred shares were issued or outstanding.