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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2018
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)

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income to common stockholders

 

$

8,975

 

 

$

9,587

 

 

$

33,045

 

 

$

29,335

 

Weighted average common shares outstanding

 

 

26,178,194

 

 

 

19,811,577

 

 

 

24,159,543

 

 

 

18,600,009

 

Basic earnings per common share

 

$

0.34

 

 

$

0.48

 

 

$

1.37

 

 

$

1.58

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income to common stockholders

 

$

8,975

 

 

$

9,587

 

 

$

33,045

 

 

$

29,335

 

Dilutive effect of preferred stock

 

 

195

 

 

 

195

 

 

 

578

 

 

 

580

 

Net income to common stockholders - diluted

 

$

9,170

 

 

$

9,782

 

 

$

33,623

 

 

$

29,915

 

Weighted average common shares outstanding

 

 

26,178,194

 

 

 

19,811,577

 

 

 

24,159,543

 

 

 

18,600,009

 

Dilutive effects of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assumed conversion of Preferred A

 

 

315,773

 

 

 

315,773

 

 

 

315,773

 

 

 

315,773

 

Assumed conversion of Preferred B

 

 

354,471

 

 

 

354,471

 

 

 

354,471

 

 

 

354,471

 

Assumed exercises of stock warrants

 

 

 

 

 

54,476

 

 

 

 

 

 

110,089

 

Assumed exercises of stock options

 

 

90,320

 

 

 

45,788

 

 

 

86,728

 

 

 

42,084

 

Restricted stock awards

 

 

45,796

 

 

 

63,384

 

 

 

55,087

 

 

 

65,999

 

Restricted stock units

 

 

7,276

 

 

 

 

 

 

2,706

 

 

 

 

Performance stock units

 

 

 

 

 

 

 

 

 

 

 

 

Average shares and dilutive potential common shares

 

 

26,991,830

 

 

 

20,645,469

 

 

 

24,974,308

 

 

 

19,488,425

 

Diluted earnings per common share

 

$

0.34

 

 

$

0.47

 

 

$

1.35

 

 

$

1.53

 

 

Schedule of Shares not Considered in Computing Diluted Earnings per Common Share

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,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Shares assumed to be converted from Preferred Stock Series A

 

 

 

 

 

 

 

 

 

 

 

 

Shares assumed to be converted from Preferred Stock Series B

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

51,952

 

 

 

58,442

 

 

 

51,952

 

 

 

58,442

 

Restricted stock awards

 

 

14,513

 

 

 

 

 

 

14,513

 

 

 

 

Restricted stock units

 

 

 

 

 

 

 

 

 

 

 

 

Performance stock units

 

 

59,658

 

 

 

 

 

 

59,658