Note 3. Earnings per Common Share

Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) No. 260-10-45 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting and, therefore, need to be included in the earnings allocation in computing earnings per share (“EPS”). The restricted stock awards previously granted by the Company contain non-forfeitable rights to dividends and therefore are considered participating securities. The two-class method for calculating basic EPS excludes dividends paid to participating securities and any undistributed earnings attributable to participating securities. Earnings per common share have been computed based on the following:

	Three Months Ended
	March 31,
(dollars in thousands, except for per share data)	2019			2018
Net income	$	11,635		$	4,251
Earnings allocated to participating securities		(26	)		(12	)
Income attributable to common stock	$	11,609		$	4,239

Weighted average common shares outstanding, including participating securities		35,283			32,116
Weighted average participating securities		(25	)		(94	)
Weighted average common shares outstanding		35,258			32,022
Incremental shares from assumed conversions of options, performance units and restricted shares		61			274
Weighted average common and equivalent shares outstanding		35,319			32,296

Earnings per common share:
Basic	$	0.33		$	0.13
Diluted		0.33			0.13

There were no antidilutive share equivalents as of March 31, 2019 and March 31, 2018.