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):



	2018		2017		2016
Basic earnings per share:
Weighted-average common shares outstanding		29,728,308		29,600,702		29,532,510
Net income	$	34,012	$	15,138	$	15,684
Basic earnings per share	$	1.14	$	0.51	$	0.53

Diluted earnings per share:
Weighted-average common shares outstanding		29,728,308		29,600,702		29,532,510
Dilutive effect of unvested restricted awards1		532,692		435,142		305,678
Dilutive effect of stock options and warrants		47,935		2,573		743
Diluted average common shares outstanding		30,308,935		30,038,417		29,838,931
Net Income	$	34,012	$	15,138	$	15,684
Diluted earnings per share	$	1.12	$	0.50	$	0.53

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

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 that was outstanding as of December 31, 2017 and 2016, 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. On January 16, 2019, the warrant was exercised; see further disclosures in Note 1: Subsequent Events, above.