Note 5 - Earnings per Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

5. 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 September 30,				Nine months ended September 30,
(Dollars in thousands, except share and per share data)	2015		2014		2015		2014
Net income	$	38,483	$	35,909	$	119,663	$	102,252
Weighted-average shares:
Basic weighted-average number of common shares outstanding		81,475,288		79,677,952		80,422,711		79,639,202
Dilutive effect of weighted-average outstanding common share equivalents
Warrants		606,803		346,101		507,002		306,306
Options		123,910		109,803		124,135		103,022
Restricted stock units		79,477		42,244		51,343		39,289
Diluted weighted-average number of common shares outstanding		82,285,478		80,176,100		81,105,191		80,087,819
Average stock options and warrants with anti-dilutive effect		760,291		1,990,358		1,082,400		1,993,384
Earnings per common share:
Basic	$	0.47	$	0.45	$	1.49	$	1.28
Diluted	$	0.47	$	0.45	$	1.48	$	1.28