Earnings per Common Share

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 3. Earnings per Common Share

Basic earnings per common share (“EPS”) is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding. Diluted EPS includes any additional common shares as if all potentially dilutive common shares were issued (e.g., stock options). The Company’s weighted average common shares outstanding for diluted EPS include the effect of stock options and restricted stock awards outstanding using the Treasury Stock Method, which are not included in the calculation of basic EPS.

Earnings per common share have been computed as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands, except per share amounts)	2015			2014			2015			2014
Net income	$	10,521		$	4,378		$	20,901		$	8,776
Less: preferred stock dividends		(28	)		(28	)		(56	)		(56	)
Net income available to common stockholders	$	10,493		$	4,350			20,845			8,720
Basic weighted average common shares outstanding		29,868			16,373			29,813			16,362
Plus: effect of dilutive options and awards		363			57			391			60
Diluted weighted average common shares outstanding		30,231			16,430			30,204			16,422
Earnings per common share:
Basic	$	0.35		$	0.27		$	0.70		$	0.53
Diluted	$	0.35		$	0.26		$	0.69		$	0.53