Earnings per Common Share

Basic earnings per common share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average common shares outstanding during the period. Diluted earnings per common share takes into account the potential dilution that would occur if in-the-money stock options were exercised and converted into common shares and RSUs and PSUs were vested. Proceeds assumed to have been received on option exercises are assumed to be used to purchase shares of the Corporation’s common stock at the average market price during the period, as required by the treasury stock method of accounting. The effects of stock options are excluded from the computation of diluted earnings per share in periods in which the effect would be antidilutive.



	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars in thousands except share and per share data)	2018		2017		2018		2017
Numerator:
Net income available to common shareholders	$	16,682	$	10,739	$	46,656	$	29,216
Denominator for basic earnings per share – weighted average shares outstanding	20,270,706		17,023,046		20,237,757		16,987,499
Effect of dilutive common shares	167,670		230,936		206,318		254,728
Denominator for diluted earnings per share – adjusted weighted average shares outstanding	20,438,376		17,253,982		20,444,075		17,242,227
Basic earnings per share	$	0.82	$	0.63	$	2.31	$	1.72
Diluted earnings per share	$	0.82	$	0.62	$	2.28	$	1.69
Antidilutive shares excluded from computation of average dilutive earnings per share	22,232		21,621		48,807		47,268