NOTE

– EARNINGS PER SHARE

Earnings per Common Share

Earnings per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares outstanding and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the dilutive incremental common shares associated with restricted stock awards, shares issuable upon the exercise of stock options and warrants, using the treasury stock method.

For the

three

months ended

March 31, 2019

and

2018,

the Company calculated earnings per share as follows:

	For the three months ended March 31,
(In thousands, except share and per share data)	2019		2018
	(unaudited)		(unaudited)
Net income available to common stockholders	$	14,673	$	10,796

Weighted average shares outstanding:
Total weighted average shares outstanding, basic		45,565,381		45,274,540
Dilutive potential common shares		1,863,962		393,025
Total weighted average shares outstanding, diluted		47,429,343		45,667,565

Net income per share available to common stockholders
Basic	$	0.32	$	0.24
Diluted	$	0.31	$	0.24

As of

March 31, 2019,

0.2

million restricted shares are excluded from dilutive potential common shares as they were anti-dilutive. As of

March 31, 2018,

0.2

million restricted shares,

0.2

million options and

10.1

million warrants are excluded from dilutive potential common shares as they were anti-dilutive.