Net Income Per Common Share

(In Thousands, Except Share Data)

Basic net income per common share is calculated by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per common share reflects the pro forma dilution of shares outstanding, assuming outstanding service-based restricted stock awards fully vested and outstanding stock options were exercised into common shares, calculated in accordance with the treasury method. Basic and diluted net income per common share calculations are as follows for the periods presented:



	Three Months Ended
	June 30,
	2018		2017
Basic
Net income applicable to common stock	$	36,710	$	25,284
Average common shares outstanding	49,413,754		44,415,423
Net income per common share - basic	$	0.74	$	0.57
Diluted
Net income applicable to common stock	$	36,710	$	25,284
Average common shares outstanding	49,413,754		44,415,423
Effect of dilutive stock-based compensation	136,007		108,118
Average common shares outstanding - diluted	49,549,761		44,523,541
Net income per common share - diluted	$	0.74	$	0.57



	Six Months Ended
	June 30,
	2018		2017
Basic
Net income applicable to common stock	$	70,536	$	49,256
Average common shares outstanding	49,385,244		44,390,021
Net income per common share - basic	$	1.43	$	1.11
Diluted
Net income applicable to common stock	$	70,536	$	49,256
Average common shares outstanding	49,385,244		44,390,021
Effect of dilutive stock-based compensation	136,801		110,259
Average common shares outstanding - diluted	49,522,045		44,500,280
Net income per common share - diluted	$	1.42	$	1.11

Stock-based compensation awards that could potentially dilute basic net income per common share in the future that were not included in the computation of diluted net income per common share due to their anti-dilutive effect were as follows for the periods presented:



	Three Months Ended
	June 30,
	2018	2017
Number of shares	44,273	—
Exercise prices (for stock option awards)	—	—



	Six Months Ended
	June 30,
	2018	2017
Number of shares	44,273	—
Exercise prices (for stock option awards)	—	—