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EARNINGS PER COMMON SHARE | 12 Months Ended
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Dec. 31, 2015
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE | Computations for basic and diluted EPS are provided below:
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| Common Stock |  | Class B Common Stock |  | Total |  | Common Stock |  | Class B Common Stock |  | Total |  | Common Stock |  | Class B Common Stock |  | Total
| ($ in thousands, except per share data)
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | $ | 62,050 |  |  | $ | 22 |  |  | $ | 62,072 |  |  | $ | 29,559 |  |  | $ | 646 |  |  | $ | 30,205 |  |  | $ | (80 | ) |  | $ | (4 | ) |  | $ | (84 | )
Less: income allocated to participating securities | (1,310 | ) |  | — |  |  | (1,310 | ) |  | (487 | ) |  | (11 | ) |  | (498 | ) |  | — |  |  | — |  |  | — |
Less: participating securities dividends | (713 | ) |  | — |  |  | (713 | ) |  | (531 | ) |  | (12 | ) |  | (543 | ) |  | — |  |  | — |  |  | — |
Less: preferred stock dividends | (9,820 | ) |  | (3 | ) |  | (9,823 | ) |  | (3,562 | ) |  | (78 | ) |  | (3,640 | ) |  | (2,070 | ) |  | (115 | ) |  | (2,185 | )
Net income (loss) allocated to common stockholders | $ | 50,207 |  |  | $ | 19 |  |  | $ | 50,226 |  |  | $ | 24,979 |  |  | $ | 545 |  |  | $ | 25,524 |  |  | $ | (2,150 | ) |  | $ | (119 | ) |  | $ | (2,269 | )
Weighted average common shares outstanding | 37,033,725 |  |  | 12,869 |  |  | 37,046,594 |  |  | 27,444,878 |  |  | 599,563 |  |  | 28,044,441 |  |  | 14,481,060 |  |  | 805,774 |  |  | 15,286,834 |
Basic earnings (loss) per common share | $ | 1.36 |  |  | $ | 1.36 |  |  | $ | 1.36 |  |  | $ | 0.91 |  |  | $ | 0.91 |  |  | $ | 0.91 |  |  | $ | (0.15 | ) |  | $ | (0.15 | ) |  | $ | (0.15 | )
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) allocated to common stockholders | $ | 50,207 |  |  | $ | 19 |  |  | $ | 50,226 |  |  | $ | 24,979 |  |  | $ | 545 |  |  | $ | 25,524 |  |  | $ | (2,150 | ) |  | $ | (119 | ) |  | $ | (2,269 | )
Additional income allocation for class B dilutive shares | (520 | ) |  | 520 |  |  | — |  |  | (106 | ) |  | 106 |  |  | — |  |  | — |  |  | — |  |  | — |
Adjusted net income (loss) allocated to common stockholders | $ | 49,687 |  |  | $ | 539 |  |  | $ | 50,226 |  |  | $ | 24,873 |  |  | $ | 651 |  |  | $ | 25,524 |  |  | $ | (2,150 | ) |  | $ | (119 | ) |  | $ | (2,269 | )
Weighted average common shares outstanding | 37,033,725 |  |  | 12,869 |  |  | 37,046,594 |  |  | 27,444,878 |  |  | 599,563 |  |  | 28,044,441 |  |  | 14,481,060 |  |  | 805,774 |  |  | 15,286,834 |
Add: Dilutive effects of restricted stock units | 138,646 |  |  | — |  |  | 138,646 |  |  | 52,286 |  |  | — |  |  | 52,286 |  |  | — |  |  | — |  |  | — |
Add: Dilutive effects of purchase contracts | — |  |  | — |  |  | — |  |  | 26,807 |  |  | — |  |  | 26,807 |  |  | — |  |  | — |  |  | — |
Add: Dilutive effects of stock options | 30,014 |  |  | — |  |  | 30,014 |  |  | 8,692 |  |  | — |  |  | 8,692 |  |  | — |  |  | — |  |  | — |
Add: Dilutive effects of warrants | — |  |  | 383,255 |  |  | 383,255 |  |  | — |  |  | 115,997 |  |  | 115,997 |  |  | — |  |  | — |  |  | — |
Average shares and dilutive common shares | 37,202,385 |  |  | 396,124 |  |  | 37,598,509 |  |  | 27,532,663 |  |  | 715,560 |  |  | 28,248,223 |  |  | 14,481,060 |  |  | 805,774 |  |  | 15,286,834 |
Diluted earnings (loss) per common share | $ | 1.34 |  |  | $ | 1.36 |  |  | $ | 1.34 |  |  | $ | 0.90 |  |  | $ | 0.91 |  |  | $ | 0.90 |  |  | $ | (0.15 | ) |  | $ | (0.15 | ) |  | $ | (0.15 | )
For the years ended December 31, 2015, 2014, and 2013, there were 498,196, 658,054 and 1,560,172 stock options, respectively, and 0, 0, and 1,635,000 warrants, respectively, that were not considered in computing diluted earnings (loss) per common share, because they were anti-dilutive.

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