Independent Bank Corporation Just Filed Its Quarterly Report: A reconciliation of ...

A reconciliation of basic and diluted net income per common share follows:
 
  
Three Months Ended
June 30,
  
Six Months Ended
June 30,
 
  
2018
  
2017
  
2018
  
2017
 
  
(In thousands, except per share data)
 
Net income
 
$
8,817
  
$
5,931
  
$
17,978
  
$
11,905
 
                 
Weighted average shares outstanding (1)
  
24,109
   
21,331
   
22,745
   
21,320
 
Effect of stock options
  
224
   
143
   
179
   
147
 
Stock units for deferred compensation plan for non-employee directors
  
126
   
119
   
125
   
119
 
Performance share units
  
51
   
54
   
50
   
57
 
Weighted average shares outstanding for calculation of diluted earnings per share
  
24,510
   
21,647
   
23,099
   
21,643
 
Net income per common share
                
Basic (1)
 
$
0.37
  
$
0.28
  
$
0.79
  
$
0.56
 
Diluted
 
$
0.36
  
$
0.27
  
$
0.78
  
$
0.55
 
 
(1)Basic net income per common share includes weighted average common shares outstanding during the period and participating share awards.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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