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Net Income Per Common Share (Tables)
3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Basic and Diluted Net Income Per Common Share Based on Weighted-average Shares Outstanding

Basic and diluted net income per common share based on weighted-average shares outstanding are calculated as follows:

 

 

 

Income

(Numerator)

 

 

Shares

(Denominator)

 

 

Per Share

Amount

 

 

 

(Dollars in thousands, except per share data)

 

Three Months Ended March 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders

 

$

22,050

 

 

 

15,864,807

 

 

$

1.39

 

Dilutive effect of stock options

 

 

 

 

 

373,191

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders plus assumed

   exercises of stock options

 

$

22,050

 

 

 

16,237,998

 

 

$

1.36

 

Three Months Ended March 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders

 

$

16,579

 

 

 

15,534,416

 

 

$

1.07

 

Dilutive effect of stock options

 

 

 

 

 

281,955

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders plus assumed

   exercises of stock options

 

$

16,579

 

 

 

15,816,371

 

 

$

1.05

 

 

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 period because the options’ exercise prices were greater than the average market price of the common shares:

 

 

 

Shares

 

 

Average

Exercise Price

 

Three Months Ended March 31, 2017

 

 

 

 

$

 

Three Months Ended March 31, 2016

 

 

236,451

 

 

$

58.59