Earnings Per Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share

Earnings Per Share

Note 14: Earnings Per Share

The earnings per share – both basic and diluted – are included below as of December 31 (in thousands except for share data):

	2016		2015		2014
Basic earnings per share:
Weighted-average common shares outstanding		29,532,510		29,476,821		25,300,909
Weighted-average common shares less stock based awards		29,532,510		29,476,821		25,298,813
Weighted-average common shares stock based awards		-		-		201,558
Net income	$	15,684	$	15,385	$	10,136
Gain on preferred stock redemption		-		-		(1,348)
Preferred stock dividends and accretion		-		1,873		(371)
Net earnings available to common stockholders	$	15,684	$	13,512	$	11,855
Basic earnings per share common undistributed earnings		N/A		N/A		0.46
Basic earnings per share	$	0.53	$	0.46	$	0.46
Diluted earnings per share:
Weighted-average common shares outstanding		29,532,510		29,476,821		25,300,909
Dilutive effect of nonvested restricted awards1		305,678		253,253		248,284
Dilutive effect of stock options		743		-		-
Diluted average common shares outstanding		29,838,931		29,730,074		25,549,193
Net earnings available to common stockholders	$	15,684	$	13,512	$	11,855
Diluted earnings per share	$	0.53	$	0.46	$	0.46
Number of antidilutive options and warrants excluded from the diluted earnings per share calculation		900,839		977,839		1,044,339
1  Includes the common stock equivalents for restricted share rights that are dilutive.

The above earnings per share calculation did not include a warrant for 815,339 shares of common stock that was outstanding as of December 31, 2016, 2015 and 2014, because the warrant was anti-dilutive at an exercise price of $13.43.  Of note, the warrant was sold at auction by the Treasury in June 2013 to a third party investor.