Note 4 - Earnings Per Share

3 Months Ended

Mar. 31, 2016

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 March 31,
(Dollars in thousands, except share and per share data)	2016		2015
Net income	$	46,163	$	35,980
Weighted-average shares:
Basic weighted-average number of common shares outstanding		79,734,519		79,835,628
Dilutive effect of weighted-average outstanding common share equivalents
Warrants		452,368		344,919
Options		83,018		108,457
Restricted stock units		123,944		20,379
Diluted weighted-average number of common shares outstanding		80,393,849		80,309,383
Average stock options and warrants with anti-dilutive effect		359,544		1,670,231
Earnings per common share:
Basic	$	0.58	$	0.45
Diluted	$	0.57	$	0.45