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Earnings per Share
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Earnings per Share

Note 24—Earnings per Share

A reconciliation of the numerators and denominators for earnings per common share computations is presented below. Incremental shares represent outstanding stock options for which the exercise price is less than the average market price of the Company’s common stock during the periods presented. Options to purchase 1,783,023 shares of common stock were outstanding as of December 31, 2017 and 2016. There were 70,798 restricted stock awards outstanding at December 31, 2017. There were no restricted stock awards outstanding at December 31, 2016 and 2015.

 

 

 

Years ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Net income (loss)

 

$

21,695

 

 

$

66,729

 

 

$

(14,974

)

Less: Dividends on preferred shares

 

 

11,277

 

 

 

—

 

 

 

—

 

Net income (loss) available to common stockholders

 

$

10,418

 

 

$

66,729

 

 

$

(14,974

)

Weighted-average common stock outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common stock outstanding (basic)

 

 

26,963,517

 

 

 

20,141,630

 

 

 

17,332,775

 

Incremental shares

 

 

583,797

 

 

 

289,153

 

 

 

—

 

Weighted-average common stock outstanding (dilutive)

 

 

27,547,314

 

 

 

20,430,783

 

 

 

17,332,775

 

Basic earnings per common share

 

$

0.39

 

 

$

3.31

 

 

$

(0.86

)

Diluted earnings per common share

 

$

0.38

 

 

$

3.27

 

 

$

(0.86

)