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Earnings Per Share | 6 Months Ended
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Jun. 30, 2018
Earnings Per Share |
Earnings Per Share | 8. Earnings Per Share Basic earnings per common share is computed by dividing net income, less preferred stock dividends and accretion of preferred stock issuance costs, by the weighted average number of common shares outstanding for the period. Treasury stock is excluded from the weighted average number of shares of common stock outstanding. Diluted earnings per share attributable to common stockholders is computed based on the weighted average number of shares of common stock and dilutive securities outstanding during the period. Dilutive securities are common stock equivalents that are freely exercisable into common stock at less than market prices or otherwise dilute earnings if converted. The net effect of common stock equivalents is based on the incremental common stock that would be issued upon the vesting of restricted stock using the treasury stock method. Common stock equivalents are not included in diluted earnings per share when their inclusion is antidilutive. Additionally, redeemable preferred stock is not convertible and does not affect dilutive shares. The computations of diluted weighted average earnings per common share do not include approximately 0.3 million and 0.1 million restricted shares for the three and six months ended June 30, 2018, respectively, as the effect of their inclusion would have been antidilutive to earnings per share. There were no anti-dilutive shares during the three months ended June 30, 2017 and 43 thousand anti-dilutive shares excluded from the computation of diluted weighted average earnings per common share during the six months ended June 30, 2017. The difference between average common shares outstanding to calculate basic and assuming full dilution is due to restricted stock issued under the 2007 Stock Incentive Plan. The following table presents the calculation of basic and diluted EPS:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2018 |  | 2017 |  | 2018 |  | 2017
|  | (in thousands) |  | (in thousands)
Net income attributable to common shareholders |  | $ | 7,528 |  | $ | 5,657 |  | $ | 13,789 |  | $ | 13,495
Basic weighted average common shares outstanding |  |  | 5,878 |  |  | 6,036 |  |  | 5,990 |  |  | 6,075
Potentially dilutive common shares |  |  | 113 |  |  | 122 |  |  | 133 |  |  | 138
Diluted weighted average common shares outstanding |  |  | 5,991 |  |  | 6,158 |  |  | 6,123 |  |  | 6,213
Basic weighted average earnings per common share |  | $ | 1.28 |  | $ | 0.94 |  | $ | 2.30 |  | $ | 2.22
Diluted weighted average earnings per common share |  | $ | 1.26 |  | $ | 0.92 |  | $ | 2.25 |  | $ | 2.17

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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 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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