Note 10: Earnings Per Common Share

Earnings per common share have been computed as follows (in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017

Net income available to common stockholders	$	24,862	$	16,479	$	46,779	$	31,649

Shares:
Weighted average common shares outstanding	48,815		38,311		48,796		38,302

Dilutive effect of outstanding options, warrants and restricted stock units as determined by the application of the treasury stock method	409		441		407		444


Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation	49,224		38,752		49,203		38,746


Basic earnings per common share	$	0.51	$	0.43	$	0.96	$	0.83


Diluted earnings per common share	$	0.51	$	0.43	$	0.95	$	0.82

Basic earnings per share are computed by dividing net income available to common stockholders for the period by the weighted average number of common shares outstanding, which include deferred stock units that are vested but not delivered.

Diluted earnings per common share are computed using the treasury stock method and reflect the potential dilution that could occur if the Company’s outstanding stock options and warrants were exercised and restricted stock units were vested. Stock options, warrants and restricted stock units for which the exercise or the grant price exceeds the average market price over the period have an anti-dilutive effect and are excluded from the calculation. At June 30, 2018, 191,278 warrants were anti-dilutive and excluded from the calculation of common stock equivalents. At June 30, 2017, 10,850 outstanding options, 128,622 restricted stock units and 191,278 warrants were anti-dilutive and excluded from the calculation of common stock equivalents.