Earnings Per Share ("EPS")

6 Months Ended

Jun. 30, 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 June 30, 2016, stock options and restricted shares awards for 451,670 shares of common stock were excluded in computing diluted earnings per common share because they were antidilutive. For the six months ended June 30, 2016, stock options and restricted share awards for 445,113 shares were excluded in computing diluted earnings per share because they were anti-dilutive. Additionally, warrants issued pursuant to the Company’s participation in the U.S. Treasury’s TARP Capital Purchase Plan, to purchase 19,552 shares and 19,013 shares of common stock were antidilutive and excluded for the three and six months ended June 30, 2016 and 2015, respectively.

The following tables show the computation of basic and diluted EPS for the three and six months ended June 30, 2016 and 2015.



	Three Months Ended June 30,
	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	$	23,390	79,604,673	$	0.29	$	22,941	79,549,097	$	0.29
Effect of dilutive securities:
Stock options and restricted stock			30,089					20,778
Common stock warrants			—					38,530
Diluted EPS - common stock	$	23,390	79,634,762	$	0.29	$	22,941	79,608,405	$	0.29




	Six Months Ended June 30,
	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	$	47,013	79,595,599	$	0.59	$	44,299	79,539,789	$	0.56
Effect of Dilutive Securities:
Stock Options and Performance Units			30,074					24,155
Common stock warrants			—					46,712
Diluted EPS - common stock	$	47,013	79,625,673	$	0.59	$	44,299	79,610,656	$	0.56