Earnings Per Share

9 Months Ended

Sep. 30, 2016

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, 2016		September 30, 2015	September 30, 2016	September 30, 2015
Net income available to common stockholders, basic and diluted	$	30,957	29,614	90,090	86,619
Average outstanding shares - basic	76,288,640		75,531,923	76,195,550	75,424,147
Add: dilutive stock options and awards	62,233		54,530	51,501	45,208
Average outstanding shares - diluted	76,350,873		75,586,453	76,247,051	75,469,355
Basic earnings per share	$	0.40	0.39	1.18	1.15
Diluted earnings per share	$	0.40	0.39	1.18	1.15

There were 10,677 and 3,181 stock options or restricted stock awards excluded from the diluted average outstanding share calculation for the nine months ended September 30, 2016 and 2015, 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.