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EARNINGS PER SHARE (Tables)
3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Computation of Earnings Per Share

 

For the Three Months Ended

March 31,

 

 

2019

 

 

2018

 

 

(Dollars in thousands, except per share data)

 

Net income per consolidated statements of income

$

8,656

 

 

$

8,556

 

Net income allocated to participating securities

 

(30

)

 

 

(41

)

Net income allocated to common stock

$

8,626

 

 

$

8,515

 

 

 

 

 

 

 

 

 

Basic earnings per common share computation:

 

 

 

 

 

 

 

Distributed earnings allocated to common stock

$

3,420

 

 

$

2,973

 

Undistributed earnings allocated to common stock

 

5,206

 

 

 

5,542

 

Net income allocated to common stock

$

8,626

 

 

$

8,515

 

Weighted average common shares outstanding, including shares

   considered participating securities

 

49,024

 

 

 

49,850

 

Less: Average participating securities

 

(170

)

 

 

(239

)

Weighted average shares

 

48,854

 

 

 

49,611

 

Basic earnings per common share

$

0.18

 

 

$

0.17

 

 

 

 

 

 

 

 

 

Diluted earnings per common share computation:

 

 

 

 

 

 

 

Net income allocated to common stock

$

8,626

 

 

$

8,515

 

Weighted average common shares outstanding for basic earnings per common share

 

48,854

 

 

 

49,611

 

Add: Dilutive effects of assumed exercises of stock options and LTIP awards

 

259

 

 

 

274

 

Weighted average shares and dilutive potential common shares

 

49,113

 

 

 

49,885

 

Diluted earnings per common share

$

0.18

 

 

$

0.17