Annual report pursuant to Section 13 and 15(d)

Earnings Per Common Share (Tables)

v3.3.1.900
Earnings Per Common Share (Tables)
12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Calculation of earnings per common share and diluted earnings per common share
The calculation of earnings per common share (EPS) and diluted EPS for 2015, 2014 and 2013 is presented below. For more information on the calculation of EPS, see Note 1 – Summary of Significant Accounting Principles.
 
 
 
 
 
 
(Dollars in millions, except per share information; shares in thousands)
2015
 
2014
 
2013
Earnings per common share
 

 
 

 
 

Net income
$
15,888

 
$
4,833

 
$
11,431

Preferred stock dividends
(1,483
)
 
(1,044
)
 
(1,349
)
Net income applicable to common shareholders
14,405

 
3,789

 
10,082

Dividends and undistributed earnings allocated to participating securities

 

 
(2
)
Net income allocated to common shareholders
$
14,405

 
$
3,789

 
$
10,080

Average common shares issued and outstanding
10,462,282

 
10,527,818

 
10,731,165

Earnings per common share
$
1.38

 
$
0.36

 
$
0.94

 
 
 
 
 
 
Diluted earnings per common share
 

 
 

 
 

Net income applicable to common shareholders
$
14,405

 
$
3,789

 
$
10,082

Add preferred stock dividends due to assumed conversions
300

 

 
300

Dividends and undistributed earnings allocated to participating securities

 

 
(2
)
Net income allocated to common shareholders
$
14,705

 
$
3,789

 
$
10,380

Average common shares issued and outstanding
10,462,282

 
10,527,818

 
10,731,165

Dilutive potential common shares (1)
751,710

 
56,717

 
760,253

Total diluted average common shares issued and outstanding
11,213,992

 
10,584,535

 
11,491,418

Diluted earnings per common share
$
1.31

 
$
0.36

 
$
0.90

(1) 
Includes incremental dilutive shares from restricted stock units, restricted stock, stock options and warrants.