| Schedule of basic and diluted earnings per common share |
Presented below are the calculations for basic and diluted earnings per common share for the years ended December 31, 2016, 2015 and 2014 (in thousands, except for share and per share data):
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2016
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2015
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2014
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Net income
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$
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31,542
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$
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24,324
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$
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10,816
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Preferred stock dividends
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—
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—
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(7,601)
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Net income available to common equity
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31,542
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24,324
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3,215
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Common shareholder dividends
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(9,797)
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(7,642)
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(3,465)
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Unvested restricted stock award dividends
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(56)
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(50)
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(47)
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Undistributed earnings to unvested restricted stock awards
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(110)
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(108)
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—
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Undistributed earnings to common shareholders
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$
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21,579
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$
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16,524
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$
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(297)
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Basic
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Distributed earnings to common shareholders
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$
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9,797
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$
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7,642
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$
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3,465
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Undistributed earnings to common shareholders
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21,579
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16,524
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(297)
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Total common shareholders earnings, basic
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$
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31,376
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$
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24,166
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$
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3,168
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Diluted
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Distributed earnings to common shareholders
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$
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9,797
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$
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7,642
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$
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3,465
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Undistributed earnings to common shareholders
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21,579
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16,524
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(297)
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Total common shareholders earnings
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31,376
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24,166
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3,168
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Add back:
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Undistributed earnings reallocated from unvested restricted stock awards
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2
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2
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—
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Total common shareholders earnings, diluted
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$
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31,378
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$
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24,168
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$
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3,168
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Weighted average common shares outstanding, basic
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14,130,552
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11,902,455
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5,945,615
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Options and warrants
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298,287
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209,948
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79,839
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Weighted average common shares outstanding, diluted
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14,428,839
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12,112,403
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6,025,454
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Basic earnings per common share
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$
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2.22
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$
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2.03
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$
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0.53
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Diluted earnings per common share
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2.17
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2.00
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0.53
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