Stockholders’ Equity and EPS

Common Stock

In the second quarter of 2014, to support the continued growth of our balance sheet, we completed a registered public offering of 4,485,000 shares of our common stock at an offering price of $101.00 per share. We received net proceeds of $434.9 million after deducting underwriting discounts and commissions.

Accumulated Other Comprehensive Income

The following table summarizes the items reclassified out of accumulated other comprehensive income into the Consolidated Statements of Income for 2015, 2014, and 2013:



		Year ended December 31,
(Dollars in thousands)	Income Statement Location	2015			2014			2013
Reclassification adjustment for (gains) losses included in net income	Gains on investment securities, net	$	(1,201	)	$	18,598		$	(538	)
Related tax expense (benefit)	Income tax expense	481			(7,510		)	218
Total reclassification adjustment for (gains) losses included in net income, net of tax		$	(720	)	$	11,088		$	(320	)

EPS

Basic EPS is the amount of earnings available to each share of common stock outstanding during the reporting period. Diluted EPS is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares. Potentially dilutive common shares include incremental shares issued for stock option and restricted stock unit awards outstanding under our equity incentive plan and our ESPP. Potentially dilutive common shares are excluded from the computation of dilutive EPS in periods in which the effect would be antidilutive. The following is a reconciliation of basic EPS to diluted EPS for 2015, 2014 and 2013:



	Year ended December 31,
(Dollars and shares in thousands, except per share amounts)	2015		2014		2013
Numerator:
Net income available to common stockholders	$	343,904	$	263,870	$	214,517
Denominator:
Weighted average common shares outstanding-basic	51,318		48,931		45,309
Weighted average effect of dilutive securities:
Stock options and ESPP	387		485		431
Restricted stock units	211		246		204
Denominator for diluted calculation	51,916		49,662		45,944
Earnings per common share:
Basic	$	6.70	$	5.39	$	4.73
Diluted	$	6.62	$	5.31	$	4.67

The following table summarizes the weighted average common shares excluded from the diluted EPS calculation as they were deemed to be antidilutive for 2015, 2014 and 2013:



	Year ended December 31,
(Shares in thousands)	2015	2014	2013
Stock options	185	161	261
Restricted stock units	—	—	105
Total	185	161	366