Earnings Per Share ("EPS")

3 Months Ended

Mar. 31, 2016

Earnings Per Share (“EPS”)

Basic EPS does not reflect the possibility of dilution that could result from the issuance of additional shares of common stock upon exercise or conversion of outstanding securities, and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted to common stock that would then share in our earnings. For the three months ended March 31, 2016, stock options and restricted shares awards for 443,956 shares of common stock were excluded in computing diluted earnings per common share because they were antidilutive. Additionally, warrants issued pursuant to the Company’s participation in the U.S. Treasury’s TARP Capital Purchase Plan, to purchase 19,420 shares and 18,882 shares of common stock were antidilutive and excluded for the three months ended March 31, 2016 and 2015, respectively.

The following tables show the computation of basic and diluted EPS for the three months ended March 31, 2016 and 2015.



	Three Months Ended March 31,
	2016					2015
	Net Income (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)		Net Income (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)
	(In thousands, except share and per share data)
Basic EPS - common stock	$	23,623	79,583,188	$	0.30	$	21,358	79,526,218	$	0.27
Effect of dilutive securities:
Stock options and restricted stock			30,057					27,359
Common stock warrants			—					48,545
Diluted EPS - common stock	$	23,623	79,613,245	$	0.30	$	21,358	79,602,122	$	0.27