Note 4 - Earnings Per Share

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

4

. Earnings per Share

 

Basic earnings per share exclude

s 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)	2017		2016
Net income	$	48,941	$	46,163
Weighted-average shares:
Basic weighted-average number of common shares outstanding		79,703,593		79,734,519
Dilutive effect of weighted-average outstanding common share equivalents
Warrants		416,607		452,368
Options		33,888		83,018
Restricted stock units		259,090		123,944
Diluted weighted-average number of common shares outstanding		80,413,178		80,393,849
Average stock options and warrants with anti-dilutive effect		19,900		359,544
Earnings per common share:
Basic	$	0.61	$	0.58
Diluted	$	0.61	$	0.57