Net Income Per Common Share (Tables)

12 Months Ended

Dec. 31, 2016

Basic and Diluted Net Income Per Common Share

Basic and diluted net income per common share are calculated as follows:

	Income (Numerator)		Shares (Denominator)		Per Share Amount
	(Dollars in thousands, except per share data)
Year Ended December 31, 2016
Basic
Income available to common stockholders	$	70,674		15,615,170	$	4.53
Effect of stock options		—		296,092
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	70,674		15,911,262	$	4.44
Year Ended December 31, 2015
Basic
Income available to common stockholders	$	66,170		15,559,059	$	4.25
Effect of stock options		—		327,186
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	66,170		15,886,245	$	4.17
Year Ended December 31, 2014
Basic
Income available to common stockholders	$	63,887		15,430,773	$	4.14
Effect of stock options		—		363,630
Diluted
Income available to common stockholders plus assumed exercises of stock options	$	63,887		15,794,403	$	4.04

Average Exercise Price of Options Excluded from Computation of Diluted Net Income Per Common Share

The following table shows the number and average exercise price of options that were excluded from the computation of diluted net income per common share for each year because the options’ exercise prices were greater than the average market price of the common shares.

	Shares		Average Exercise Price
December 31, 2016		147,219	$	60.49
December 31, 2015		177,718		58.47
December 31, 2014		69,405		55.87