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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2017
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 June 30,

 

 

Six Months Ended June 30,

 

(Dollars in thousands)

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income to common stockholders

 

$

9,467

 

 

$

4,431

 

 

$

19,748

 

 

$

9,243

 

Weighted average common shares outstanding

 

 

18,012,905

 

 

 

17,859,604

 

 

 

17,984,184

 

 

 

17,838,267

 

Basic earnings per common share

 

$

0.53

 

 

$

0.25

 

 

$

1.10

 

 

$

0.52

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income to common stockholders

 

$

9,467

 

 

$

4,431

 

 

$

19,748

 

 

$

9,243

 

Dilutive effect of preferred stock

 

 

193

 

 

 

 

 

 

385

 

 

 

 

Net income to common stockholders - diluted

 

$

9,660

 

 

$

4,431

 

 

$

20,133

 

 

$

9,243

 

Weighted average common shares outstanding

 

 

18,012,905

 

 

 

17,859,604

 

 

 

17,984,184

 

 

 

17,838,267

 

Add:  Dilutive effects of restricted stock

 

 

47,521

 

 

 

112,880

 

 

 

67,308

 

 

 

113,334

 

Add:  Dilutive effects of assumed exercises of stock options

 

 

32,592

 

 

 

 

 

 

40,233

 

 

 

 

Add:  Dilutive effects of assumed exercises of stock warrants

 

 

129,896

 

 

 

70,101

 

 

 

137,896

 

 

 

60,330

 

Add:  Dilutive effects of assumed conversion of Preferred A

 

 

315,773

 

 

 

 

 

 

315,773

 

 

 

 

Add:  Dilutive effects of assumed conversion of Preferred B

 

 

354,471

 

 

 

 

 

 

354,471

 

 

 

 

Average shares and dilutive potential common shares

 

 

18,893,158

 

 

 

18,042,585

 

 

 

18,899,865

 

 

 

18,011,931

 

Diluted earnings per common share

 

$

0.51

 

 

$

0.25

 

 

$

1.07

 

 

$

0.51

 

 

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

 

  

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

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

 

 

35,270

 

 

 

76,362

 

 

 

35,270

 

 

 

76,362

 

Stock options

 

 

58,442

 

 

 

164,175

 

 

 

58,442

 

 

 

164,175