Earnings Per Share

6 Months Ended

Jun. 30, 2020

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



	Three Months Ended				Six Months Ended
	June 30				June 30
	2020		2019		2020		2019
	(Dollars in thousands, except per share data)
Net income	$	24,902	$	30,628	$	51,653	$	65,853

Weighted Average Shares
Basic shares	32,944,761		34,313,492		33,564,596		31,226,985
Effect of dilutive securities	28,098		41,878		31,991		48,381
Diluted shares	32,972,859		34,355,370		33,596,587		31,275,366

Net income per share
Basic EPS	$	0.76	$	0.89	$	1.54	$	2.11
Effect of dilutive securities	—		—		—		—
Diluted EPS	$	0.76	$	0.89	$	1.54	$	2.11

The diluted earnings per share computations do not assume the conversion, exercise, or contingent issuance of the following shares for the following periods because the result would have been anti-dilutive for the periods indicated. As a result of the anti-dilution, the potential common shares excluded from the calculation of diluted earnings are as follows:



	Three Months Ended		Six Months Ended
	June 30		June 30
	2020	2019	2020	2019
Stock options	10,000	—	10,000	—
Performance-based restricted stock	—	—	9,763	11,419