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EARNINGS PER COMMON SHARE
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE
Computations of basic and diluted EPS are provided below.
 
Three Months Ended
 
Nine Months Ended
 
Common
Stock
 
Class B
Common
Stock
 
Total
 
Common
Stock
 
Class B
Common
Stock
 
Total
 
($ in thousands, except per share data)
September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
 
 
 
 
Net income
$
35,820

 
$
117

 
$
35,937

 
$
81,963

 
$
189

 
$
82,152

Less: income allocated to participating securities
(732
)
 
(2
)
 
(734
)
 
(1,608
)
 
(4
)
 
(1,612
)
Less: participating securities dividends
(185
)
 
(1
)
 
(186
)
 
(557
)
 
(1
)
 
(558
)
Less: preferred stock dividends
(5,095
)
 
(17
)
 
(5,112
)
 
(14,767
)
 
(34
)
 
(14,801
)
Net income allocated to common stockholders
$
29,808

 
$
97

 
$
29,905

 
$
65,031

 
$
150

 
$
65,181

Weighted average common shares outstanding
49,745,563

 
162,277

 
49,907,840

 
45,655,735

 
105,067

 
45,760,802

Basic earnings per common share:
$
0.60

 
$
0.60

 
$
0.60

 
$
1.42

 
$
1.42

 
$
1.42

Diluted:
 
 
 
 
 
 
 
 
 
 
 
Net income allocated to common stockholders
$
29,808

 
$
97

 
$
29,905

 
$
65,031

 
$
150

 
$
65,181

Additional income allocation for class B dilutive shares
(315
)
 
315

 
—

 
(672
)
 
672

 
—

Adjusted net income allocated to common stockholders
$
29,493

 
$
412

 
$
29,905

 
$
64,359

 
$
822

 
$
65,181

Weighted average common shares outstanding
49,745,563

 
162,277

 
49,907,840

 
45,655,735

 
105,067

 
45,760,802

Add: Dilutive effects of restricted stock units
244,354

 
—

 
244,354

 
213,636

 
—

 
213,636

Add: Dilutive effects of purchase contracts
—

 
—

 
—

 
—

 
—

 
—

Add: Dilutive effects of stock options
319,275

 
—

 
319,275

 
233,045

 
—

 
233,045

Add: Dilutive effects of warrants
—

 
525,000

 
525,000

 
—

 
473,834

 
473,834

Average shares and dilutive common shares
50,309,192

 
687,277

 
50,996,469

 
46,102,416

 
578,901

 
46,681,317

Diluted earnings per common share
$
0.59

 
$
0.60

 
$
0.59

 
$
1.40

 
$
1.42

 
$
1.40

September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
 
 
 
 
Net income
$
14,536

 
$
—

 
$
14,536

 
$
43,018

 
$
16

 
$
43,034

Less: income allocated to participating securities
(260
)
 
—

 
(260
)
 
(872
)
 
—

 
(872
)
Less: participating securities dividends
(182
)
 
—

 
(182
)
 
(528
)
 
—

 
(528
)
Less: preferred stock dividends
(3,040
)
 
—

 
(3,040
)
 
(6,790
)
 
(3
)
 
(6,793
)
Net income allocated to common stockholders
$
11,054

 
$
—

 
$
11,054

 
$
34,828

 
$
13

 
$
34,841

Weighted average common shares outstanding
38,122,150

 
—

 
38,122,150

 
36,762,753

 
13,922

 
36,776,675

Basic earnings per common share
$
0.29

 
$
0.29

 
$
0.29

 
$
0.95

 
$
0.95

 
$
0.95

Diluted:
 
 
 
 
 
 
 
 
 
 
 
Net income allocated to common stockholders
$
11,054

 
$
—

 
$
11,054

 
$
34,828

 
$
13

 
$
34,841

Additional income allocation for class B dilutive shares
(119
)
 
119

 
—

 
$
(355
)
 
$
355

 
$
—

Adjusted net income allocated to common stockholders
$
10,935

 
$
119

 
$
11,054

 
$
34,473

 
$
368

 
$
34,841

Weighted average common shares outstanding
38,122,150

 
—

 
38,122,150

 
36,762,753

 
13,922

 
36,776,675

Add: Dilutive effects of restricted stock units
133,216

 
—

 
133,216

 
141,105

 
—

 
141,105

Add: Dilutive effects of purchase contracts
—

 
—

 
—

 
—

 
—

 
—

Add: Dilutive effects of stock options
32,117

 
—

 
32,117

 
17,499

 
—

 
17,499

Add: Dilutive effects of warrants
—

 
409,011

 
409,011

 
—

 
373,883

 
373,883

Average shares and dilutive common shares
38,287,483

 
409,011

 
38,696,494

 
36,921,357

 
387,805

 
37,309,162

Diluted earnings per common share
$
0.29

 
$
0.29

 
$
0.29

 
$
0.93

 
$
0.95

 
$
0.93


For the three and nine months ended September 30, 2016, there were 0 stock options that were anti-dilutive. For the three and nine months ended September 30, 2015, there were 358,196 and 358,196 stock options, respectively, for common stock that were not considered in computing diluted earnings per common share, because they were anti-dilutive.