NOTE 13: EARNINGS PER SHARE

All of the Company’s share and per share computations have been adjusted to reflect the impact of the two-for-one stock split that was effective as of January 18, 2017. The following table sets forth the Company’s earnings per share calculations for the years ended December 31:

	2017				2016				2015
(dollars in thousands, except share and per share amounts)	Basic		Diluted		Basic		Diluted		Basic		Diluted
Net income	$	27,582	$	27,582	$	23,303	$	23,303	$	13,378	$	13,378
Basic common shares outstanding		34,482,630		34,482,630		32,365,800		32,365,800		22,310,014		22,310,014
Effect of options, restricted stock and contingent shares issuable				848,429				1,106,016				841,696
Diluted common shares outstanding				35,331,059				33,471,816				23,151,710
Earnings per share	$	0.80	$	0.78	$	0.72	$	0.70	$	0.60	$	0.58

Based on a weighted average basis, options to purchase 6,588, and 85,036 shares of common stock were excluded for 2016 and 2015 respectively, because their effect would have been anti-dilutive.