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Earnings per Common Share | 9 Months Ended
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Sep. 30, 2016
Earnings Per Share [Abstract] |
Earnings per Common Share | Note 3. Earnings per Common Share Basic earnings per common share (“EPS”) is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding. Diluted EPS includes any additional common shares as if all potentially dilutive common shares were issued (e.g., stock options). The Company’s weighted average common shares outstanding for diluted EPS include the effect of stock options and restricted stock awards outstanding using the Treasury Stock Method, which are not included in the calculation of basic EPS. Earnings per common share have been computed as follows:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
(in thousands, except per share amounts) | 2016 |  | 2015 |  | 2016 |  | 2015
Net income | $ | 11,856 |  | $ | 10,842 |  |  | $ | 33,106 |  |  | $ | 31,743 |
Preferred stock dividends |  | - |  |  | (28 | ) |  |  | (22 | ) |  |  | (84 | )
Net income available to common stockholders | $ | 11,856 |  | $ | 10,814 |  |  | $ | 33,084 |  |  | $ | 31,659 |
Basic weighted average common shares outstanding |  | 30,125 |  |  | 30,046 |  |  |  | 30,100 |  |  |  | 29,786 |
Effect of dilutive options (1) |  | 276 |  |  | 290 |  |  |  | 276 |  |  |  | 537 |
Diluted weighted average common shares outstanding (2) |  | 30,401 |  |  | 30,336 |  |  |  | 30,376 |  |  |  | 30,323 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.39 |  | $ | 0.36 |  |  | $ | 1.10 |  |  | $ | 1.06 |
Diluted |  | 0.39 |  |  | 0.36 |  |  |  | 1.09 |  |  |  | 1.04 |
(1) | Represents incremental shares computed using the treasury stock method.
(2) | Anti-dilutive shares are not included in determining diluted earnings per share. There were no anti-dilutive shares in the three and nine months ended September 30, 2016.

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