BASIC AND DILUTED EARNINGS PER COMMON SHARE

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

BASIC AND DILUTED EARNINGS PER COMMON SHARE

NOTE C — BASIC AND DILUTED EARNINGS PER COMMON SHARE

Options to purchase 274,000 shares and 191,000 shares were antidilutive for each of the three month periods ended September 30, 2017 and 2016, respectively, and accordingly were excluded in determining diluted earnings per share. Options to purchase 243,000 shares and 199,000 shares were antidilutive for each of the nine month periods ended September 30, 2017 and 2016, respectively.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands, except per share data)	2017		2016		2017		2016
Basic:
Income available to common shareholders	$	14,216	$	9,133	$	29,818	$	18,431
Average basic shares outstanding		43,151,248		37,549,804		41,626,356		36,626,290
Basic earnings per share	$	0.33	$	0.24	$	0.72	$	0.50
Diluted:
Income available to common shareholders	$	14,216	$	9,133	$	29,818	$	18,431
Average basic shares outstanding		43,151,248		37,549,804		41,626,356		36,626,290
Restricted stock and stock options		640,860		620,059		671,780		631,843
Average diluted shares outstanding		43,792,108		38,169,863		42,298,136		37,258,133
Diluted earnings per share	$	0.32	$	0.24	$	0.70	$	0.49

The dilutive impact of restricted stock and stock options is calculated under the treasury method.