Note 10: Earnings Per Common Share

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


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
Net income available to common stockholders	$	26,859	$	18,784	$	73,638	$	50,433
Shares:
Weighted average common shares outstanding		48,892		45,324		48,828		40,669
Dilutive effect of outstanding options, warrants and restricted stock units as determined by the application of the treasury stock method		355		440		388		400

Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation		49,247		45,764		49,216		41,069

Basic earnings per common share	$	0.55	$	0.41	$	1.51	$	1.24

Diluted earnings per common share	$	0.55	$	0.41	$	1.50	$	1.23

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 September 30, 2018, 172,571 outstanding restricted stock units and 191,278 warrants were anti-dilutive and excluded from the calculation of common stock equivalents. At September 30, 2017, 78,540 outstanding options and 191,278 warrants were anti-dilutive and excluded from the calculation of common stock equivalents.