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EARNINGS PER COMMON SHARE | 9 Months Ended
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Sep. 30, 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 and nine months ended September 30, 2017:
| Three Months Ended September 30, 2017 |  | Nine Months Ended September 30, 2017
| Common Stock |  | Class B Common Stock |  | Total |  | Common Stock |  | Class B Common Stock |  | Total
| ($ in thousands, except per share data)
Income from continuing operations | $ | 17,980 |  |  | $ | 128 |  |  | $ | 18,108 |  |  | $ | 42,384 |  |  | $ | 238 |  |  | $ | 42,622 |
Less: income allocated to participating securities | (152 | ) |  | (1 | ) |  | (153 | ) |  | (327 | ) |  | (2 | ) |  | (329 | )
Less: participating securities dividends | (202 | ) |  | (1 | ) |  | (203 | ) |  | (605 | ) |  | (3 | ) |  | (608 | )
Less: preferred stock dividends | (5,076 | ) |  | (36 | ) |  | (5,112 | ) |  | (15,252 | ) |  | (86 | ) |  | (15,338 | )
Income from continuing operations allocated to common stockholders | 12,550 |  |  | 90 |  |  | 12,640 |  |  | 26,200 |  |  | 147 |  |  | 26,347 |
Income from discontinued operations | (1,151 | ) |  | (8 | ) |  | (1,159 | ) |  | 3,764 |  |  | 21 |  |  | 3,785 |
Net income allocated to common stockholders | $ | 11,399 |  |  | $ | 82 |  |  | $ | 11,481 |  |  | $ | 29,964 |  |  | $ | 168 |  |  | $ | 30,132 |
Weighted average common shares outstanding | 50,006,370 |  |  | 355,944 |  |  | 50,362,314 |  |  | 49,881,231 |  |  | 279,697 |  |  | 50,160,928 |
Dilutive effects of stock units | 130,700 |  |  | — |  |  | 130,700 |  |  | 96,899 |  |  | — |  |  | 96,899 |
Dilutive effects of stock options | 147,424 |  |  | — |  |  | 147,424 |  |  | 187,206 |  |  | — |  |  | 187,206 |
Dilutive effects of warrants | 292,920 |  |  | — |  |  | 292,920 |  |  | 365,374 |  |  | — |  |  | 365,374 |
Average shares and dilutive common shares | 50,577,414 |  |  | 355,944 |  |  | 50,933,358 |  |  | 50,530,710 |  |  | 279,697 |  |  | 50,810,407 |
Basic earnings per common share |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations | $ | 0.25 |  |  | $ | 0.25 |  |  | $ | 0.25 |  |  | $ | 0.52 |  |  | $ | 0.52 |  |  | $ | 0.52 |
Income from discontinued operations | (0.02 | ) |  | (0.02 | ) |  | (0.02 | ) |  | 0.08 |  |  | 0.08 |  |  | 0.08 |
Net income | $ | 0.23 |  |  | $ | 0.23 |  |  | $ | 0.23 |  |  | $ | 0.60 |  |  | $ | 0.60 |  |  | $ | 0.60 |
Diluted earnings per common share |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations | $ | 0.25 |  |  | $ | 0.25 |  |  | $ | 0.25 |  |  | $ | 0.52 |  |  | $ | 0.52 |  |  | $ | 0.52 |
Income from discontinued operations | (0.02 | ) |  | (0.02 | ) |  | (0.02 | ) |  | 0.07 |  |  | 0.08 |  |  | 0.07 |
Net income | $ | 0.23 |  |  | $ | 0.23 |  |  | $ | 0.23 |  |  | $ | 0.59 |  |  | $ | 0.60 |  |  | $ | 0.59 |
For the three and nine months ended September 30, 2017, there were 99,287 and 106,361 stock units, respectively, and 120,000 and 199,121 stock options, respectively, that were not considered in computing diluted earnings per common share, because they were anti-dilutive. The following table presents computations of basic and diluted EPS for the three and nine months ended September 30, 2016:
| Three Months Ended September 30, 2016 |  | Nine Months Ended September 30, 2016
| Common Stock |  | Class B Common Stock |  | Total |  | Common Stock |  | Class B Common Stock |  | Total
| ($ in thousands, except per share data)
Income from continuing operations | $ | 25,097 |  |  | $ | 82 |  |  | $ | 25,179 |  |  | $ | 62,102 |  |  | $ | 143 |  |  | $ | 62,245 |
Less: income allocated to participating securities | (732 | ) |  | (2 | ) |  | (734 | ) |  | (1,608 | ) |  | (4 | ) |  | (1,612 | )
Less: participating securities dividends | (185 | ) |  | (1 | ) |  | (186 | ) |  | (557 | ) |  | (1 | ) |  | (558 | )
Less: preferred stock dividends | (5,095 | ) |  | (17 | ) |  | (5,112 | ) |  | (14,767 | ) |  | (34 | ) |  | (14,801 | )
Income from continuing operations allocated to common stockholders | 19,085 |  |  | 62 |  |  | 19,147 |  |  | 45,170 |  |  | 104 |  |  | 45,274 |
Income from discontinued operations | 10,723 |  |  | 35 |  |  | 10,758 |  |  | 19,861 |  |  | 46 |  |  | 19,907 |
Net income allocated to common stockholders | $ | 29,808 |  |  | $ | 97 |  |  | $ | 29,905 |  |  | $ | 65,031 |  |  | $ | 150 |  |  | $ | 65,181 |
Weighted average common shares outstanding | 49,745,563 |  |  | 162,277 |  |  | 49,907,840 |  |  | 45,655,735 |  |  | 105,067 |  |  | 45,760,802 |
Dilutive effects of stock units | 244,354 |  |  | — |  |  | 244,354 |  |  | 213,636 |  |  | — |  |  | 213,636 |
Dilutive effects of stock options | 319,275 |  |  | — |  |  | 319,275 |  |  | 233,045 |  |  | — |  |  | 233,045 |
Dilutive effects of warrants | 525,000 |  |  | — |  |  | 525,000 |  |  | 473,834 |  |  | — |  |  | 473,834 |
Average shares and dilutive common shares | 50,834,192 |  |  | 162,277 |  |  | 50,996,469 |  |  | 46,576,250 |  |  | 105,067 |  |  | 46,681,317 |
Basic earnings per common share |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 0.99 |  |  | $ | 0.99 |  |  | $ | 0.99 |
Income from discontinued operations | 0.22 |  |  | 0.22 |  |  | 0.22 |  |  | 0.43 |  |  | 0.43 |  |  | 0.43 |
Net income | $ | 0.60 |  |  | $ | 0.60 |  |  | $ | 0.60 |  |  | $ | 1.42 |  |  | $ | 1.42 |  |  | $ | 1.42 |
Diluted earnings per common share |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 0.97 |  |  | $ | 0.99 |  |  | $ | 0.97 |
Income from discontinued operations | 0.21 |  |  | 0.22 |  |  | 0.21 |  |  | 0.43 |  |  | 0.43 |  |  | 0.43 |
Net income | $ | 0.59 |  |  | $ | 0.60 |  |  | $ | 0.59 |  |  | $ | 1.40 |  |  | $ | 1.42 |  |  | $ | 1.40 |
For the three and nine months ended September 30, 2016, there were 0 stock options that were not considered in computing diluted earnings per common share, because they were anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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