Note 4 - Earnings per Share

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

4. Earnings per Share

Basic earnings per share excludes dilution and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and resulted in the issuance of common stock that then shared in earnings.

Outstanding stock options with anti-dilutive effect were not included in the computation of diluted earnings per share. The following table sets forth earnings per common share calculations:

	Three months ended June 30,				Six months ended June 30,
(Dollars in thousands, except share and per share data)	2015		2014		2015		2014
Net income	$	45,200	$	35,084	$	81,180	$	66,343
Weighted-average shares:
Basic weighted-average number of common shares outstanding		79,939,197		79,642,993		79,887,699		79,619,506
Dilutive effect of weighted-average outstanding common share equivalents
Warrants		566,405		273,759		456,274		286,079
Options		139,867		97,476		124,249		99,575
Restricted stock units		53,525		32,243		37,043		37,786
Diluted weighted-average number of common shares outstanding		80,698,994		80,046,471		80,505,265		80,042,946
Average stock options and warrants with anti-dilutive effect		939,615		2,003,896		1,246,123		1,994,922
Earnings per common share:
Basic	$	0.57	$	0.44	$	1.02	$	0.83
Diluted	$	0.56	$	0.44	$	1.01	$	0.83