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.

There were no shares that would have had an antidilutive impact to earnings per share for the three months ended March 31, 2019. The computation of diluted weighted average earnings per share do not include 275 restricted shares for the three months ended March 31, 2018, as the effect of their inclusion would have been antidilutive to earnings per share.

The following table presents the calculation of basic and diluted EPS (in thousands, except per share data):



	Three Months Ended March 31,
	2019		2018
Net income attributable to common shareholders	$	20,056	$	6,261

Basic weighted average common shares outstanding	5,779		6,104
Potentially dilutive common shares	199		152
Diluted weighted average common shares outstanding	5,978		6,256

Basic weighted average earnings per common share	$	3.47	$	1.03
Diluted weighted average earnings per common share	$	3.35	$	1.00