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EARNINGS PER COMMON SHARE (Tables) | 6 Months Ended
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Jun. 30, 2016
Earnings Per Share [Abstract] |
Basic and Diluted Earnings Per Common Share | Computations of basic and diluted EPS are provided below.
| Three Months Ended |  | Six Months Ended
| Common Stock |  | Class B Common Stock |  | Total |  | Common Stock |  | Class B Common Stock |  | Total
| ($ in thousands, except per share data)
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 26,471 |  |  | $ | 57 |  |  | $ | 26,528 |  |  | $ | 46,134 |  |  | $ | 81 |  |  | $ | 46,215 |
Less: income allocated to participating securities | (482 | ) |  | (1 | ) |  | (483 | ) |  | (851 | ) |  | (1 | ) |  | (852 | )
Less: participating securities dividends | (186 | ) |  | — |  |  | (186 | ) |  | (371 | ) |  | (1 | ) |  | (372 | )
Less: preferred stock dividends | (5,103 | ) |  | (11 | ) |  | (5,114 | ) |  | (9,672 | ) |  | (17 | ) |  | (9,689 | )
Net income allocated to common stockholders | $ | 20,700 |  |  | $ | 45 |  |  | $ | 20,745 |  |  | $ | 35,240 |  |  | $ | 62 |  |  | $ | 35,302 |
Weighted average common shares outstanding | 47,324,887 |  |  | 101,954 |  |  | 47,426,841 |  |  | 43,618,536 |  |  | 76,147 |  |  | 43,694,683 |
Basic earnings per common share: | $ | 0.44 |  |  | $ | 0.44 |  |  | $ | 0.44 |  |  | $ | 0.81 |  |  | $ | 0.81 |  |  | $ | 0.81 |
Diluted: |  |  |  |  |  |  |  |  |  |  |
Net income allocated to common stockholders | $ | 20,700 |  |  | $ | 45 |  |  | $ | 20,745 |  |  | $ | 35,240 |  |  | $ | 62 |  |  | $ | 35,302 |
Additional income allocation for class B dilutive shares | (247 | ) |  | 247 |  |  | — |  |  | (407 | ) |  | 407 |  |  | — |
Adjusted net income allocated to common stockholders | $ | 20,453 |  |  | $ | 292 |  |  | $ | 20,745 |  |  | $ | 34,833 |  |  | $ | 469 |  |  | $ | 35,302 |
Weighted average common shares outstanding | 47,324,887 |  |  | 101,954 |  |  | 47,426,841 |  |  | 43,618,536 |  |  | 76,147 |  |  | 43,694,683 |
Add: Dilutive effects of restricted stock units | 258,521 |  |  | — |  |  | 258,521 |  |  | 198,582 |  |  | — |  |  | 198,582 |
Add: Dilutive effects of purchase contracts | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Add: Dilutive effects of stock options | 308,405 |  |  | — |  |  | 308,405 |  |  | 217,480 |  |  | — |  |  | 217,480 |
Add: Dilutive effects of warrants | — |  |  | 560,667 |  |  | 560,667 |  |  | — |  |  | 503,304 |  |  | 503,304 |
Average shares and dilutive common shares | 47,891,813 |  |  | 662,621 |  |  | 48,554,434 |  |  | 44,034,598 |  |  | 579,451 |  |  | 44,614,049 |
Diluted earnings per common share | $ | 0.43 |  |  | $ | 0.44 |  |  | $ | 0.43 |  |  | $ | 0.79 |  |  | $ | 0.81 |  |  | $ | 0.79 |
June 30, 2015 |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 15,923 |  |  | $ | 1 |  |  | $ | 15,924 |  |  | $ | 28,482 |  |  | $ | 16 |  |  | $ | 28,498 |
Less: income allocated to participating securities | (308 | ) |  | — |  |  | (308 | ) |  | (580 | ) |  | — |  |  | (580 | )
Less: participating securities dividends | (173 | ) |  | — |  |  | (173 | ) |  | (346 | ) |  | — |  |  | (346 | )
Less: preferred stock dividends | (2,843 | ) |  | — |  |  | (2,843 | ) |  | (3,751 | ) |  | (2 | ) |  | (3,753 | )
Net income allocated to common stockholders | $ | 12,599 |  |  | $ | 1 |  |  | $ | 12,600 |  |  | $ | 23,805 |  |  | $ | 14 |  |  | $ | 23,819 |
Weighted average common shares outstanding | 38,519,816 |  |  | 11 |  |  | 38,519,827 |  |  | 38,127,368 |  |  | 20,998 |  |  | 38,148,366 |
Basic earnings per common share | $ | 0.33 |  |  | $ | 0.33 |  |  | $ | 0.33 |  |  | $ | 0.62 |  |  | $ | 0.62 |  |  | $ | 0.62 |
Diluted: |  |  |  |  |  |  |  |  |  |  |
Net income allocated to common stockholders | $ | 12,599 |  |  | $ | 1 |  |  | $ | 12,600 |  |  | $ | 23,805 |  |  | $ | 14 |  |  | $ | 23,819 |
Additional income allocation for class B dilutive shares | (162 | ) |  | 162 |  |  | — |  |  | $ | (250 | ) |  | $ | 250 |  |  | $ | — |
Adjusted net income allocated to common stockholders | $ | 12,437 |  |  | $ | 163 |  |  | $ | 12,600 |  |  | $ | 23,555 |  |  | $ | 264 |  |  | $ | 23,819 |
Weighted average common shares outstanding | 38,519,816 |  |  | 11 |  |  | 38,519,827 |  |  | 38,127,368 |  |  | 20,998 |  |  | 38,148,366 |
Add: Dilutive effects of restricted stock units | 138,196 |  |  | — |  |  | 138,196 |  |  | 142,381 |  |  | — |  |  | 142,381 |
Add: Dilutive effects of purchase contracts | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Add: Dilutive effects of stock options | 42,533 |  |  | — |  |  | 42,533 |  |  | 12,179 |  |  | — |  |  | 12,179 |
Add: Dilutive effects of warrants | — |  |  | 494,622 |  |  | 494,622 |  |  | — |  |  | 404,369 |  |  | 404,369 |
Average shares and dilutive common shares | 38,700,545 |  |  | 494,633 |  |  | 39,195,178 |  |  | 38,281,928 |  |  | 425,367 |  |  | 38,707,295 |
Diluted earnings per common share | $ | 0.32 |  |  | $ | 0.33 |  |  | $ | 0.32 |  |  | $ | 0.62 |  |  | $ | 0.62 |  |  | $ | 0.62 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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