Earnings Per Share

12 Months Ended

Dec. 31, 2018

EARNINGS PER SHARE

The computations of basic and diluted earnings per share follow:



	For the Year Ended December 31,
	2018					2017					2016
			Common					Common					Common
Dollars in thousands,	Income		Shares	Per		Income		Shares	Per		Income		Shares	Per
except per share amounts	(Numerator)		(Denominator)	Share		(Numerator)		(Denominator)	Share		(Numerator)		(Denominator)	Share
Net income	$	28,072				$	11,915				$	17,297
Basic EPS	$	28,072	12,364,468	$	2.27	$	11,915	11,918,390	$	1.00	$	17,297	10,689,224	$	1.62
Effect of dilutive securities:
Stock options			7,071					11,338					11,612
Stock appreciation rights (SARs)			53,034					19,517					16,035
Diluted EPS	$	28,072	12,424,573	$	2.26	$	11,915	11,949,245	$	1.00	$	17,297	10,716,871	$	1.61

Stock option and SAR grants and the convertible preferred shares are disregarded in this computation if they are determined to be anti-dilutive. At December 31, 2018, our anti-dilutive stock options were 7,700 shares and anti-dilutive SARs totaled 87,615. All outstanding stock options and SARs were dilutive at December 31, 2017. At December 31, 2016, anti-dilutive options totaled 23,400 shares.