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Earnings Per Share | 3 Months Ended
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Mar. 31, 2017
Earnings Per Share |
Earnings Per Share | Note 11 – Earnings Per Share The earnings per share – both basic and diluted – are included below as of March 31 (in thousands except for share data):
|  | Three Months Ended March 31, |
|  | 2017 |  | 2016 |
Basic earnings per share: |  |  |  |  |  |  |
Weighted-average common shares outstanding |  |  | 29,560,521 |  |  | 29,483,429 |
Net income available to common stockholders |  | $ | 4,572 |  | $ | 3,322 |
Basic earnings per share |  | $ | 0.15 |  | $ | 0.11 |
Diluted earnings per share: |  |  |  |  |  |  |
Weighted-average common shares outstanding |  |  | 29,560,521 |  |  | 29,483,429 |
Dilutive effect of nonvested restricted awards 1 |  |  | 378,112 |  |  | 322,341 |
Dilutive effect of stock options |  |  | 2,317 |  |  | - |
Diluted average common shares outstanding |  |  | 29,940,950 |  |  | 29,805,770 |
Net earnings available to common stockholders |  | $ | 4,572 |  | $ | 3,322 |
Diluted earnings per share |  | $ | 0.15 |  | $ | 0.11 |
Number of antidilutive options and warrants excluded from the diluted earnings per share calculation |  |  | 900,839 |  |  | 977,839 |
1 Includes the common stock equivalents for restricted share rights that are dilutive. |
The above earnings per share calculation did not include a warrant for 815,339 shares of common stock, at an exercise price of $13.43 per share, that was outstanding as of March 31, 2017, and March 31, 2016, because the warrant was anti-dilutive. Of note, the ten year warrant was issued in 2009, and was sold at auction by the Treasury in June 2013 to a third party investor.

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