NOTE 21 – EARNINGS PER SHARE

The factors used in the earnings per share computation follow:

	Years Ended December 31,
(Dollars in thousands)	2017		2016		2015
Basic
Net income to common stockholders	$	35,446	$	19,813	$	28,353
Weighted average common shares outstanding		19,133,745		17,856,828		17,720,479
Basic earnings per common share	$	1.85	$	1.11	$	1.60

Diluted
Net income to common stockholders	$	35,446	$	19,813	$	28,353
Dilutive effect of preferred stock		774		—		780
Net income to common stockholders - diluted	$	36,220	$	19,813	$	29,133
Weighted average common shares outstanding		19,133,745		17,856,828		17,720,479
Dilutive effects of:
Restricted stock		68,079		110,565		79,821
Assumed exercises of stock options		45,653		3,128		—
Assumed exercises of stock warrants		82,567		83,010		48,238
Assumed conversion of Preferred A		315,773		—		315,773
Assumed conversion of Preferred B		354,471		—		360,578
Average shares and dilutive potential common shares		20,000,288		18,053,531		18,524,889
Diluted earnings per common share	$	1.81	$	1.10	$	1.57

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

	Years Ended December 31,
	2017		2016		2015
Shares assumed to be converted from Preferred Stock Series A		—		315,773		—
Shares assumed to be converted from Preferred Stock Series B		—		360,578		—
Restricted stock awards		—		—		—
Stock options		57,926		—		—