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.