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EARNINGS PER COMMON SHARE
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE
Computations of basic and diluted EPS are provided below.
 
Three Months Ended
 
Common
Stock
 
Class B
Common
Stock
 
Total
 
($ in thousands, except per share data)
March 31, 2016
 
 
 
 
 
Basic:
 
 
 
 
 
Net income
$
19,662

 
$
25

 
$
19,687

Less: income allocated to participating securities
(360
)
 
—

 
(360
)
Less: participating securities dividends
(186
)
 
—

 
(186
)
Less: preferred stock dividends
(4,569
)
 
(6
)
 
(4,575
)
Net income allocated to common stockholders
$
14,547

 
$
19

 
$
14,566

Weighted average common shares outstanding
39,946,412

 
50,340

 
39,996,752

Basic earnings per common share:
$
0.36

 
$
0.36

 
$
0.36

Diluted:
 
 
 
 
 
Net income allocated to common stockholders
$
14,547

 
$
19

 
$
14,566

Additional income allocation for class B dilutive shares
(172
)
 
172

 
—

Adjusted net income allocated to common stockholders
$
14,375

 
$
191

 
$
14,566

Weighted average common shares outstanding for basic EPS
39,946,412

 
50,340

 
39,996,752

Add: Dilutive effects of restricted stock units
138,644

 
—

 
138,644

Add: Dilutive effects of purchase contracts
—

 
—

 
—

Add: Dilutive effects of stock options
137,195

 
—

 
137,195

Add: Dilutive effects of warrants
—

 
479,025

 
479,025

Average shares and dilutive common shares
40,222,251

 
529,365

 
40,751,616

Diluted earnings per common share
$
0.36

 
$
0.36

 
$
0.36

March 31, 2015
 
 
 
 
 
Basic:
 
 
 
 
 
Net income
$
12,560

 
$
14

 
$
12,574

Less: income allocated to participating securities
(272
)
 
—

 
(272
)
Less: participating securities dividends
(173
)
 
—

 
(173
)
Less: preferred stock dividends
(909
)
 
(1
)
 
(910
)
Net income allocated to common stockholders
$
11,206

 
$
13

 
$
11,219

Weighted average common shares outstanding
37,831,035

 
42,218

 
37,873,253

Basic earnings per common share
$
0.30

 
$
0.30

 
$
0.30

Diluted:
 
 
 
 
 
Net income allocated to common stockholders
$
11,206

 
$
13

 
$
11,219

Additional income allocation for class B dilutive shares
(85
)
 
85

 
—

Adjusted net income allocated to common stockholders
$
11,121

 
$
98

 
$
11,219

Weighted average common shares outstanding for basic EPS
37,831,035

 
42,218

 
37,873,253

Add: Dilutive effects of restricted stock units
146,876

 
—

 
146,876

Add: Dilutive effects of purchase contracts
—

 
—

 
—

Add: Dilutive effects of stock options
626

 
—

 
626

Add: Dilutive effects of warrants
—

 
283,911

 
283,911

Average shares and dilutive common shares
37,978,537

 
326,129

 
38,304,666

Diluted earnings per common share
$
0.29

 
$
0.30

 
$
0.29


For the three months ended March 31, 2016, there were 32,878 options for common stock that were not considered in computing diluted earnings per common share, because they were anti-dilutive. For the three months ended March 31, 2015, there were 797,514 options for common stock that were not considered in computing diluted earnings per common share, because they were anti-dilutive.