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EARNINGS PER COMMON SHARE | 6 Months Ended
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Jun. 30, 2019
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE | EARNINGS PER COMMON SHARE Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding net of unvested shares of restricted stock. Diluted earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding, adjusted for the dilutive effect of potential common shares issuable for stock options, warrants and restricted shares, as calculated using the treasury stock method. Adjustments to the weighted average number of shares of common stock outstanding are made only when such adjustments dilute earnings per common share. The following table sets forth the computation of basic and diluted earnings per common share: TABLE 14.1
| Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars in millions, except per share data) | 2019 |  | 2018 |  | 2019 |  | 2018
Net income | $ | 95 |  |  | $ | 85 |  |  | $ | 189 |  |  | $ | 172 |
Less: Preferred stock dividends | 2 |  |  | 2 |  |  | 4 |  |  | 4 |
Net income available to common stockholders | $ | 93 |  |  | $ | 83 |  |  | $ | 185 |  |  | $ | 168 |
Basic weighted average common shares outstanding | 324,950,162 |  |  | 324,170,177 |  |  | 324,796,294 |  |  | 323,956,752 |
Net effect of dilutive stock options, warrants and restricted stock | 999,191 |  |  | 1,559,872 |  |  | 900,927 |  |  | 1,772,440 |
Diluted weighted average common shares outstanding | 325,949,353 |  |  | 325,730,049 |  |  | 325,697,221 |  |  | 325,729,192 |
Earnings per common share: |  |  |  |  |  |  |
Basic | $ | 0.29 |  |  | $ | 0.26 |  |  | $ | 0.57 |  |  | $ | 0.52 |
Diluted | $ | 0.29 |  |  | $ | 0.26 |  |  | $ | 0.57 |  |  | $ | 0.52 |
The following table shows the average shares excluded from the above calculation as their effect would have been anti-dilutive: TABLE 14.2
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Average shares excluded from the diluted earnings per common share calculation | — |  |  | 72 |  |  | 6 |  |  | 46 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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