Earnings Per Share

12 Months Ended

Dec. 31, 2015

Note 14. Earnings Per Share

The following tables set forth the number of shares used in the calculation of both basic and diluted earnings per common share:

	For the Years Ended December 31,
	2015					2014					2013
	Net Income			Shares		Net Income			Shares		Net Income			Shares
		(dollars in thousands, except per share data)
Net income	$	15,349				$	8,965				$	10,841
Dividends and accretion on preferred stock		(70	)				(168	)				(898	)

Net income available to common shareholders	$	15,279				$	8,797				$	9,943


Weighted average shares outstanding					34,129,930					32,567,137					26,341,592
Basic earnings per common share	$	0.45				$	0.27				$	0.38


Dilutive effect of share-based compensation awards					144,972					145,846					201,096
Weighted average diluted shares outstanding					34,274,902					32,712,983					26,542,689
Diluted earnings per common share	$	0.45				$	0.27				$	0.37

For the years ended December 31, 2015, 2014 and 2013, common stock equivalents associated primarily with stock options, totaling approximately 120,000 shares, 99,000 shares and 360,000 shares, respectively, were excluded from the calculation of diluted earnings per share, as their impact would be anti-dilutive.