Earnings Per Common Share

12 Months Ended

Dec. 31, 2018

Earnings per Common Share

The calculation of basic earnings per share and diluted earnings per share is presented below:



	Year Ended December 31,
(dollars in thousands, except per share data)	2018		2017		2016
Numerator:
Net income available to common shareholders	$	63,792	$	23,016	$	36,036
Denominator for basic earnings per share – Weighted average shares outstanding⁽¹⁾	20,234,792		17,150,125		16,859,623
Effect of dilutive potential common shares	155,375		248,798		168,499
Denominator for diluted earnings per share – Adjusted weighted average shares outstanding	20,390,167		17,398,923		17,028,122
Basic earnings per share	$	3.15	$	1.34	$	2.14
Diluted earnings per share	$	3.13	$	1.32	$	2.12
Antidilutive shares excluded from computation of average dilutive earnings per share	19,422		27,159		—

(1) Excludes restricted stock

All weighted average shares, actual shares and per share information in the financial statements have been adjusted retroactively for the effect of stock dividends and splits. See Section Q, “Earnings per Common Share” of Note 1, “Summary of Significant Accounting Policies,” in the accompanying Notes to the Consolidated Financial Statements in this Annual Report on Form 10-K for a discussion on the calculation of earnings per share.