Earnings Per Share

9 Months Ended

Sep. 30, 2019

Earnings per share consisted of the following components for the periods indicated:



	Three Months Ended				Nine Months Ended
	September 30				September 30
	2019		2018		2019			2018
	(Dollars in thousands, except per share data)
Net income	$	51,845	$	33,015	$	117,698		$	91,688

Weighted Average Shares
Basic shares	34,361,176		27,537,841		32,283,196			27,517,210
Effect of dilutive securities	39,390		63,499		45,416			62,596
Diluted shares	34,400,566		27,601,340		32,328,612			27,579,806

Net income per share
Basic EPS	$	1.51	$	1.20	$	3.65		$	3.33
Effect of dilutive securities	—		—		(0.01		)	(0.01		)
Diluted EPS	$	1.51	$	1.20	$	3.64		$	3.32

During the three months ended September 30, 2019 there were 5,000 options to purchase common stock and no shares of performance-based restricted stock that were excluded from the calculation of diluted earnings per share because they were anti-dilutive. There were no such options or shares of performance-based restricted stock that were anti-dilutive during the three months ended September 30, 2018 or during the nine months ended September 30, 2019 and 2018.