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

For the three and six months ended June 30, 2016, there were 0 and 240,000 stock options, respectively, for common stock that were not considered in computing diluted earnings per common share, because they were anti-dilutive. For the three and six months ended June 30, 2015, there were 324,500 and 627,514 stock options, respectively, for common stock that were not considered in computing diluted earnings per common share, because they were anti-dilutive.