BASIC AND DILUTED EARNINGS PER COMMON SHARE

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

BASIC AND DILUTED EARNINGS PER COMMON SHARE

NOTE C — BASIC AND DILUTED EARNINGS PER COMMON SHARE

For each three month period ended March 31, 2017 and 2016, options to purchase 84,000 shares and 225,000 shares, respectively, were antidilutive and accordingly were excluded in determining diluted earnings per share.

	Three Months Ended
	March 31,
(Dollars in thousands, except per share data)	2017		2016
Basic:
Income available to common shareholders	$	7,926	$	3,966
Average basic shares outstanding		38,839,284		34,848,875
Basic earnings per share	$	0.20	$	0.11
Diluted:
Income available to common shareholders plus	$	7,926	$	3,966
assumed conversions
Average basic shares outstanding		38,839,284		34,848,875
Restricted stock and stock options		659,551		604,093
Average diluted shares outstanding		39,498,835		35,452,968
Diluted earnings per share	$	0.20	$	0.11

The diluted impact of restricted stock and stock options is calculated under the treasury method.