| BASIC AND DILUTED EARNINGS PER COMMON SHARE |
NOTE C — BASIC AND DILUTED EARNINGS PER COMMON SHARE For each of the three month periods ended June 30, 2017 and 2016, options to purchase 59,000 shares and 127,000 shares, respectively, were antidilutive and accordingly were excluded in determining diluted earnings per share. | | | Three Months Ended | | Six Months Ended | | | | | June 30, | | June 30, | | | (Dollars in thousands, except per share data) | | 2017 | | 2016 | | 2017 | | 2016 | | | Basic: | | | | | | | | | | | | | | | Income available to common shareholders | | $ | 7,676 | | $ | 5,332 | | $ | 15,602 | | $ | 9,298 | | | Average basic shares outstanding | | | 42,841,152 | | | 37,470,071 | | | 40,851,273 | | | 36,159,473 | | | Basic earnings per share | | $ | 0.18 | | $ | 0.14 | | $ | 0.38 | | $ | 0.26 | | | | | | | | | | | | | | | | | | Diluted: | | | | | | | | | | | | | | | Income available to common shareholders | | $ | 7,676 | | $ | 5,332 | | $ | 15,602 | | $ | 9,298 | | | Average basic shares outstanding | | | 42,841,152 | | | 37,470,071 | | | 40,851,273 | | | 36,159,473 | | | Restricted stock and stock options | | | 715,133 | | | 671,479 | | | 687,496 | | | 637,786 | | | Average diluted shares outstanding | | | 43,556,285 | | | 38,141,550 | | | 41,538,769 | | | 36,797,259 | | | Diluted earnings per share | | $ | 0.18 | | $ | 0.14 | | $ | 0.38 | | $ | 0.25 | | The diluted impact of restricted stock and stock options is calculated under the treasury method.
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