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EARNINGS PER SHARE | 3 Months Ended
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Mar. 31, 2017
EARNINGS PER SHARE |
EARNINGS PER SHARE | 2. EARNINGS PER SHARE Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) No. 260-10-45 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting and, therefore, need to be included in the earnings allocation in computing earnings per share (“EPS”). The restricted stock awards and certain restricted stock units granted by the Company contain non-forfeitable rights to dividends and therefore are considered participating securities. The two-class method for calculating basic EPS excludes dividends paid to participating securities and any undistributed earnings attributable to participating securities. The following table presents the computation of EPS for the three months ended March 31, 2017 and 2016:
|  | Three months ended, |
|  | March 31, |
(In thousands, except per share data) |  | 2017 |  |  | 2016 |
Net income |  | $ | 9,171 |  |  | $ | 8,626 |
Dividends paid on and earnings allocated to participating securities |  |  | (178 | ) |  |  | (170 | )
Income attributable to common stock |  | $ | 8,993 |  |  | $ | 8,456 |
Weighted average common shares outstanding, including participating securities |  |  | 19,669 |  |  |  | 17,479 |
Weighted average participating securities |  |  | (392 | ) |  |  | (353 | )
Weighted average common shares outstanding |  |  | 19,277 |  |  |  | 17,126 |
Basic earnings per common share |  | $ | 0.47 |  |  | $ | 0.49 |
Income attributable to common stock |  | $ | 8,993 |  |  | $ | 8,456 |
Weighted average common shares outstanding |  |  | 19,277 |  |  |  | 17,126 |
Incremental shares from assumed conversions of options and restricted stock units |  |  | 19 |  |  |  | 11 |
Weighted average common and equivalent shares outstanding |  |  | 19,296 |  |  |  | 17,137 |
Diluted earnings per common share |  | $ | 0.47 |  |  | $ | 0.49 |
There were no stock options outstanding at March 31, 2017. There were no stock options that were antidilutive for the three months ended March 31, 2016. There were 19,957 and 24,814 restricted stock units that were antidilutive for the three months ended March 31, 2017 and 2016, respectively. The $16.0 million in trust preferred securities outstanding at March 31, 2016 were not included in the computation of diluted EPS for the three months ended March 31, 2016 because the assumed conversion of the trust preferred securities was antidilutive during that period. The trust preferred securities were redeemed effective January 18, 2017.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1278-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=65016374&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
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