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EARNINGS PER COMMON SHARE | 3 Months Ended
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Mar. 31, 2017
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE | EARNINGS PER COMMON SHARE The following table presents computations of basic and diluted EPS for the three months ended March 31, 2017:
| Three Months Ended
| Common Stock |  | Class B Common Stock |  | Total
| ($ in thousands, except per share data)
Income from continuing operations | $ | 9,338 |  |  | $ | 38 |  |  | $ | 9,376 |
Less: income allocated to participating securities | (162 | ) |  | (1 | ) |  | (163 | )
Less: participating securities dividends | (202 | ) |  | (1 | ) |  | (203 | )
Less: preferred stock dividends | (5,092 | ) |  | (21 | ) |  | (5,113 | )
Income from continuing operations allocated to common stockholders | 3,882 |  |  | 15 |  |  | 3,897 |
Income from discontinued operations | 7,793 |  |  | 32 |  |  | 7,825 |
Net income allocated to common stockholders | $ | 11,675 |  |  | $ | 47 |  |  | $ | 11,722 |
Weighted average common shares outstanding | 49,788,421 |  |  | 202,765 |  |  | 49,991,186 |
Add: Dilutive effects of restricted stock units | 209,395 |  |  | — |  |  | 209,395 |
Add: Dilutive effects of stock options | 207,506 |  |  | — |  |  | 207,506 |
Add: Dilutive effects of warrants | 346,058 |  |  | — |  |  | 346,058 |
Average shares and dilutive common shares | 50,551,380 |  |  | 202,765 |  |  | 50,754,145 |
Basic earnings per common share |  |  |  |  |
Income from continuing operations | $ | 0.08 |  |  | $ | 0.08 |  |  | $ | 0.08 |
Income from discontinued operations | 0.15 |  |  | 0.15 |  |  | 0.15 |
Net income | $ | 0.23 |  |  | $ | 0.23 |  |  | $ | 0.23 |
Diluted earnings per common share |  |  |  |  |
Income from continuing operations | $ | 0.08 |  |  | $ | 0.08 |  |  | $ | 0.08 |
Income from discontinued operations | 0.15 |  |  | 0.15 |  |  | 0.15 |
Net income | $ | 0.23 |  |  | $ | 0.23 |  |  | $ | 0.23 |
For the three months ended March 31, 2017, there were no stock options that were anti-dilutive. The following table presents computations of basic and diluted EPS for the three months ended March 31, 2016:
| Three Months Ended
| Common Stock |  | Class B Common Stock |  | Total
| ($ in thousands, except per share data)
Income from continuing operations | $ | 17,284 |  |  | $ | 22 |  |  | $ | 17,306 |
Less: income allocated to participating securities | (360 | ) |  | — |  |  | (360 | )
Less: participating securities dividends | (186 | ) |  | — |  |  | (186 | )
Less: preferred stock dividends | (4,569 | ) |  | (6 | ) |  | (4,575 | )
Income from continuing operations allocated to common stockholders | 12,169 |  |  | 16 |  |  | 12,185 |
Income from discontinued operations | 2,378 |  |  | 3 |  |  | 2,381 |
Net income allocated to common stockholders | $ | 14,547 |  |  | $ | 19 |  |  | $ | 14,566 |
Weighted average common shares outstanding | 39,946,412 |  |  | 50,340 |  |  | 39,996,752 |
Add: Dilutive effects of restricted stock units | 138,644 |  |  | — |  |  | 138,644 |
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 | 40,701,276 |  |  | 50,340 |  |  | 40,751,616 |
Basic earnings per common share |  |  |  |  |
Income from continuing operations | $ | 0.30 |  |  | $ | 0.30 |  |  | $ | 0.30 |
Income from discontinued operations | 0.06 |  |  | 0.06 |  |  | 0.06 |
Net income | $ | 0.36 |  |  | $ | 0.36 |  |  | $ | 0.36 |
Diluted earnings per common share |  |  |  |  |
Income from continuing operations | $ | 0.30 |  |  | $ | 0.30 |  |  | $ | 0.30 |
Income from discontinued operations | 0.06 |  |  | 0.06 |  |  | 0.06 |
Net income | $ | 0.36 |  |  | $ | 0.36 |  |  | $ | 0.36 |
For the three months ended March 31, 2016, there were 32,878 stock options for common stock that were not considered in computing diluted earnings per common share, because they were anti-dilutive.

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