Earnings Per Share

9 Months Ended

Sep. 30, 2015

Basic earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period presented. Diluted earnings per share is computed by including the net increase in shares as if dilutive outstanding stock options were exercised and restricted stock awards were vested, using the treasury stock method.

Basic and diluted earnings per share has been computed based on the following:



	Three Months ended			Nine Months ended
(Dollars in thousands, except per share data)	September 30, 2015		September 30, 2014	September 30, 2015	September 30, 2014
Net income available to common stockholders, basic and diluted	$	29,614	29,294	86,619	84,701
Average outstanding shares - basic	75,531,923		74,631,317	75,424,147	74,512,806
Add: dilutive stock options and awards	54,530		44,807	45,208	41,457
Average outstanding shares - diluted	75,586,453		74,676,124	75,469,355	74,554,263
Basic earnings per share	$	0.39	0.40	1.15	1.14
Diluted earnings per share	$	0.39	0.40	1.15	1.14

There were 3,181 and 0 stock options or restricted stock awards excluded from the diluted average outstanding share calculation for the nine months ended September 30, 2015 and 2014, respectively, because to do so would have been anti-dilutive for those periods. Anti-dilution occurs when the exercise price of a stock option or the unrecognized compensation cost per share of a restricted stock award exceeds the market price of the Company’s stock.