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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Factors Used in Computation of Earnings Per Share

The factors used in the earnings per share computation follow:

		Three Months Ended September 30,								Nine Months Ended September 30,
(Dollars in thousands)		2016				2015				2016				2015
Basic
Net income to common stockholders		$	4,506			$	5,732			$	13,749			$	24,041
Weighted average common shares outstanding			17,859,604				17,711,527				17,845,431				17,711,527
Basic earnings per common share		$	0.25			$	0.32			$	0.77			$	1.36
Diluted
Net income to common stockholders		$	4,506			$	5,732			$	13,749			$	24,041
Dilutive effect of preferred stock			—				196				—				583
Net income to common stockholders - diluted		$	4,506			$	5,928			$	13,749			$	24,624
Weighted average common shares outstanding			17,859,604				17,711,527				17,845,431				17,711,527
Add: Dilutive effects of restricted stock			148,977				149,790				125,215				77,591
Add: Dilutive effects of assumed exercises of stock warrants			93,095				50,153				71,251				36,751
Add: Dilutive effects of assumed conversion of Preferred A			—				315,773				—				315,773
Add: Dilutive effects of assumed conversion of Preferred B			—				360,578				—				360,578
Average shares and dilutive potential common shares			18,101,676				18,587,821				18,041,897				18,502,220
Diluted earnings per common share		$	0.25			$	0.32			$	0.76			$	1.33

Shares that were not considered in computing diluted earnings per common share because they were antidilutive are as follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2016				2015				2016				2015
Shares assumed to be converted from Preferred Stock Series A			315,773				—				315,773				—
Shares assumed to be converted from Preferred Stock Series B			360,578				—				360,578				—
Restricted stock awards			—				—				—				—
Stock options			164,175				—				164,175				—