NOTE 16 — STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE

Stock Repurchase Program — On January 23, 2013, the Company’s Board authorized a stock repurchase program to buy back up to $200.0 million of the Company’s common stock. During 2013, the Company completed the authorized repurchased program, repurchasing 8,026,807 shares at a weighted average price of $24.89 per share for a total cost of $200.0 million. On July 17, 2013, the Company’s Board authorized an additional stock repurchase program to buy back up to $100.0 million of the Company’s common stock. The Company has not repurchased any shares under this program. Although this program has no stated expiration date, the Company does not intend to repurchase any shares pursuant to this program absent further action of the Company’s Board.

Warrant — The Company acquired MetroCorp on January 17, 2014. Prior to the acquisition, MetroCorp had an outstanding warrant to purchase 771,429 shares of its common stock. Upon the acquisition, the rights of the warrant holder were converted into the right to acquire 230,282 shares of East West’s common stock until January 16, 2019. The warrant has not been exercised as of December 31, 2016.

Quarterly Dividends — The Company paid quarterly dividends on its common stock of $0.20 per share for each quarter of 2016. In comparison, the Company paid quarterly dividends on its common stock of $0.20 and $0.18 per share for each quarter of 2015 and 2014, respectively. Total dividends amounting to $116.6 million, $116.2 million and $104.0 million were paid to the Company’s common stockholders during the years ended December 31, 2016, 2015 and 2014, respectively.

EPS — The following table presents the EPS calculations for the years ended December 31, 2016, 2015 and 2014. The Company applied the two-class method in the computation of basic and diluted EPS in the periods when the RSAs were outstanding. The RSAs were fully vested as of December 31, 2015. As of December 31, 2016, there were no outstanding RSAs. For additional information regarding the Company’s EPS calculation, see Note 1 — Summary of Significant Accounting Policies to the Consolidated Financial Statements.




($ and shares in thousands, except per share data)	Year Ended December 31,
($ and shares in thousands, except per share data)	2016		2015		2014
Basic
Net income	$	431,677	$	384,677	$	345,878
Less: Earnings allocated to participating securities	—		3		506
Net income allocated to common stockholders	$	431,677	$	384,674	$	345,372

Basic weighted average common shares outstanding	144,087		143,818		142,952
Basic EPS	$	3.00	$	2.67	$	2.42

Diluted
Net income allocated to common stockholders	$	431,677	$	384,674	$	345,372

Basic weighted average common shares outstanding	144,087		143,818		142,952
Diluted potential common shares ⁽¹⁾	1,085		694		611
Diluted weighted average common shares outstanding	145,172		144,512		143,563
Diluted EPS	$	2.97	$	2.66	$	2.41


(1)	Includes dilutive shares from RSUs and warrants for the years ended December 31, 2016, 2015 and 2014. Also includes dilutive shares from stock options for the years ended December 31, 2015 and 2014.

For the years ended December 31, 2016 and 2015, approximately 8 thousand and 16 thousand weighted average anti-dilutive shares from RSUs, respectively, were excluded from the diluted EPS computation. For the year ended December 31, 2014, approximately 27 thousand weighted average anti-dilutive shares, comprised of stock options and RSUs, were excluded from the diluted EPS computation.