EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Earnings per share consisted of the following components for the years ended December 31:

	2019		2018			2017
	(Dollars in thousands, except per share data)
Net income	$	165,175	$	121,622		$	87,204
Weighted Average Shares
Basic shares	32,810,433		27,592,380			27,294,028
Effect of dilutive securities	45,801		61,428			78,076
Diluted shares	32,856,234		27,653,808			27,372,104
Net income per share
Basic EPS	$	5.03	$	4.41		$	3.19
Effect of dilutive securities	—		(0.01		)	—
Diluted EPS	$	5.03	$	4.40		$	3.19

For the years ended December 31, 2019 and 2018, there were no 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. For the year ended December 31, 2017, there were 103 options to purchase common stock and no shares of performance-based restricted stock that were considered anti-dilutive.