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EARNINGS PER COMMON SHARE
 3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE
The following table presents computations of basic and diluted EPS for the three months ended March 31, 2017:
 
Three Months Ended
 
Common
Stock
 
Class B
Common
Stock
 
Total
 
($ in thousands, except per share data)
Income from continuing operations
$
9,338

 
$
38

 
$
9,376

Less: income allocated to participating securities
(162
)
 
(1
)
 
(163
)
Less: participating securities dividends
(202
)
 
(1
)
 
(203
)
Less: preferred stock dividends
(5,092
)
 
(21
)
 
(5,113
)
Income from continuing operations allocated to common stockholders
3,882

 
15

 
3,897

Income from discontinued operations
7,793

 
32

 
7,825

Net income allocated to common stockholders
$
11,675

 
$
47

 
$
11,722

Weighted average common shares outstanding
49,788,421

 
202,765

 
49,991,186

Add: Dilutive effects of restricted stock units
209,395

 
—

 
209,395

Add: Dilutive effects of stock options
207,506

 
—

 
207,506

Add: Dilutive effects of warrants
346,058

 
—

 
346,058

Average shares and dilutive common shares
50,551,380

 
202,765

 
50,754,145

Basic earnings per common share
 
 
 
 
 
Income from continuing operations
$
0.08

 
$
0.08

 
$
0.08

Income from discontinued operations
0.15

 
0.15

 
0.15

Net income
$
0.23

 
$
0.23

 
$
0.23

Diluted earnings per common share
 
 
 
 
 
Income from continuing operations
$
0.08

 
$
0.08

 
$
0.08

Income from discontinued operations
0.15

 
0.15

 
0.15

Net income
$
0.23

 
$
0.23

 
$
0.23


For the three months ended March 31, 2017, there were no stock options that were anti-dilutive.
The following table presents computations of basic and diluted EPS for the three months ended March 31, 2016:
 
Three Months Ended
 
Common
Stock
 
Class B
Common
Stock
 
Total
 
($ in thousands, except per share data)
Income from continuing operations
$
17,284

 
$
22

 
$
17,306

Less: income allocated to participating securities
(360
)
 
—

 
(360
)
Less: participating securities dividends
(186
)
 
—

 
(186
)
Less: preferred stock dividends
(4,569
)
 
(6
)
 
(4,575
)
Income from continuing operations allocated to common stockholders
12,169

 
16

 
12,185

Income from discontinued operations
2,378

 
3

 
2,381

Net income allocated to common stockholders
$
14,547

 
$
19

 
$
14,566

Weighted average common shares outstanding
39,946,412

 
50,340

 
39,996,752

Add: Dilutive effects of restricted stock units
138,644

 
—

 
138,644

Add: Dilutive effects of stock options
137,195

 
—

 
137,195

Add: Dilutive effects of warrants
479,025

 
—

 
479,025

Average shares and dilutive common shares
40,701,276

 
50,340

 
40,751,616

Basic earnings per common share
 
 
 
 
 
Income from continuing operations
$
0.30

 
$
0.30

 
$
0.30

Income from discontinued operations
0.06

 
0.06

 
0.06

Net income
$
0.36

 
$
0.36

 
$
0.36

Diluted earnings per common share
 
 
 
 
 
Income from continuing operations
$
0.30

 
$
0.30

 
$
0.30

Income from discontinued operations
0.06

 
0.06

 
0.06

Net income
$
0.36

 
$
0.36

 
$
0.36


For the three months ended March 31, 2016, there were 32,878 stock options for common stock that were not considered in computing diluted earnings per common share, because they were anti-dilutive.