Earnings per Share

12 Months Ended

Dec. 31, 2019

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 1,921,244, 2,223,255, and 1,783,020 shares of common stock were outstanding as of December 31, 2019, 2018, and 2017, respectively. There were 328,653, 196,480, and 70,798 restricted stock awards outstanding at December 31, 2019, 2018, and 2017, respectively.

Note 24—Earnings per Share (continued)

	Years ended December 31,
	2019		2018		2017
Net income	$	57,002	$	41,193	$	21,695
Less: Dividends on preferred shares		783		783		11,277
Net income available to common stockholders	$	56,219	$	40,410	$	10,418
Weighted-average common stock outstanding:
Weighted-average common stock outstanding (basic)		37,290,486		33,292,619		26,963,517
Incremental shares		695,977		887,135		583,797
Weighted-average common stock outstanding (dilutive)		37,986,463		34,179,754		27,547,314
Basic earnings per common share	$	1.51	$	1.21	$	0.39
Diluted earnings per common share	$	1.48	$	1.18	$	0.38