Earnings per Share

12 Months Ended

Dec. 31, 2015

Earnings per Share

Earnings per Share

Note 13. Earnings per Share

The following table illustrates the required disclosure of the reconciliation of the numerators and denominators of the basic and diluted net income per share computations during the years ended December 31, 2015, 2014 and 2013 (dollars in thousands, except per share amounts):

	2015		2014		2013
Net income (loss) available to common stockholders	$	114,183	$	(14,425)	$	18,897
Shares outstanding:
Weighted average shares outstanding		46,550,042		29,901,405		23,311,492
Diluted shares outstanding		47,008,980		29,901,405		23,311,492
Basic net income (loss) per common share	$	2.45	$	(0.48)	$	0.81
Diluted net income (loss) per common share	$	2.43	$	(0.48)	$	0.81

As the accounting acquirer in the Merger and in accordance with the applicable accounting guidance in ASC 805, for purposes of computing comparative earnings per share, the Company has presented the historical weighted average number of common shares outstanding multiplied by the exchange ratio established in the Merger Agreement (see Note 3) for the year ended December 31, 2013. At the Merger Date, there were no dilutive securities outstanding.