Earnings per Common Share

The Company applies the two-class method of computing basic and diluted EPS. Under the two-class method, EPS is determined for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. The Company issues restricted shares under share-based compensation plans and preferred shares which qualify as participating securities.

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated:



	Year Ended December 31,
	2017		2016		2015
	(in thousands except per share)
Basic EPS:
Net income	$	112,828	$	104,866	$	98,827
Less: Earnings allocated to participating securities
Preferred shares	3		185		175
Nonvested restricted shares	1,501		1,371		1,075
Earnings allocated to common shareholders	$	111,324	$	103,310	$	97,577
Weighted average common shares outstanding	59,882		57,184		57,019
Basic earnings per common share	$	1.86	$	1.81	$	1.71
Diluted EPS:
Earnings allocated to common shareholders	$	111,324	$	103,310	$	97,577
Weighted average common shares outstanding	59,882		57,184		57,019
Dilutive effect of equity awards and warrants	6		9		13
Weighted average diluted common shares outstanding	59,888		57,193		57,032
Diluted earnings per common share	$	1.86	$	1.81	$	1.71
Potentially dilutive share options that were not included in the computation of diluted EPS because to do so would be anti-dilutive	13		19		37