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Earnings Per Share | 6 Months Ended
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Jun. 30, 2018
Earnings Per Share |
Earnings Per Share | Note 11 – Earnings Per Share The earnings per share – both basic and diluted – are included below as of June 30 (in thousands except for share and per share data):
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
|  | 2018 |  | 2017 |  | 2018 |  | 2017 |
Basic earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding |  |  | 29,747,078 |  |  | 29,587,095 |  |  | 29,703,508 |  |  | 29,573,881 |
Net income |  | $ | 6,261 |  | $ | 5,146 |  | $ | 15,750 |  | $ | 9,573 |
Basic earnings per share |  | $ | 0.21 |  | $ | 0.17 |  | $ | 0.53 |  | $ | 0.32 |
Diluted earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding |  |  | 29,747,078 |  |  | 29,587,095 |  |  | 29,703,508 |  |  | 29,573,881 |
Dilutive effect of unvested restricted awards 1 |  |  | 539,166 |  |  | 426,264 |  |  | 506,234 |  |  | 400,232 |
Dilutive effect of stock options and warrants |  |  | 51,038 |  |  | 2,546 |  |  | 43,698 |  |  | 2,431 |
Diluted average common shares outstanding |  |  | 30,337,282 |  |  | 30,015,905 |  |  | 30,253,440 |  |  | 29,976,544 |
Net Income |  | $ | 6,261 |  | $ | 5,146 |  | $ | 15,750 |  | $ | 9,573 |
Diluted earnings per share |  | $ | 0.21 |  | $ | 0.17 |  | $ | 0.52 |  | $ | 0.32 |
Number of antidilutive options and warrants excluded from the diluted earnings per share calculation |  |  | - |  |  | 900,839 |  |  | - |  |  | 900,839 |
1 Includes the common stock equivalents for restricted share rights that are dilutive. |  |  |  |  |  |  |
The above earnings per share calculation also includes a warrant for 815,339 shares of common stock, at an exercise price of $13.43 per share, that was outstanding as of June 30, 2018, as it is considered dilutive. The same warrant was not included as of June 30, 2017, because the warrant was anti-dilutive. The ten-year warrant was issued in 2009, and was sold at auction by the U.S. Treasury in June 2013 to a third party investor.

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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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