Note 14: Earnings Per Share

The earnings per share, both basic and diluted, are included below as of December 31 (in thousands except for share data):



	2017		2016		2015
Basic earnings per share:
Weighted-average common shares outstanding		29,600,702		29,532,510		29,476,821
Net income	$	15,138	$	15,684	$	15,385
Preferred stock dividends and accretion		-		-		1,873
Net income available to common stockholders	$	15,138	$	15,684	$	13,512
Basic earnings per share	$	0.51	$	0.53	$	0.46
Diluted earnings per share:
Weighted-average common shares outstanding		29,600,702		29,532,510		29,476,821
Dilutive effect of unvested restricted awards1		435,142		305,678		253,253
Dilutive effect of stock options		2,573		743		-
Diluted average common shares outstanding		30,038,417		29,838,931		29,730,074
Net Income	$	15,138	$	15,684	$	13,512
Diluted earnings per share	$	0.50	$	0.53	$	0.46

Number of antidilutive options and warrants excluded from the diluted earnings per share calculation		815,339		900,839		977,839

1 Includes the common stock equivalents for restricted share awards that are dilutive.

The above earnings per share calculation did not include a warrant for 815,339 shares of common stock that was outstanding as of December 31, 2017, 2016 and 2015, because the warrant was anti-dilutive at an exercise price of $13.43. Of note, the warrant was sold at auction by the Treasury in June 2013 to a third party investor.