Earnings per Share

6 Months Ended

Jun. 30, 2019

Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding during the period.

For both the three and six months ended June 30, 2019, options to purchase 494,000 shares were antidilutive in each period and, accordingly, were excluded in the computation of diluted earnings per share, compared to 479,000 and 378,000 shares, respectively, for the three and six months ended June 30, 2018.



	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands, except per share data)	2019		2018		2019		2018
Basic earnings per share
Net income	$	23,253	$	16,964	$	45,958	$	34,991
Average common shares outstanding	51,446		47,165		51,403		47,059
Net income per share	$	0.45	$	0.36	$	0.89	$	0.74

Diluted earnings per share
Net income	$	23,253	$	16,964	$	45,958	$	34,991
Average common shares outstanding	51,446		47,165		51,403		47,059
Add: Dilutive effect of employee restricted stock and stock options	506		809		595		769
Average diluted shares outstanding	51,952		47,974		51,998		47,828
Net income per share	$	0.45	$	0.35	$	0.88	$	0.73