Earnings Per Share

9 Months Ended

Sep. 30, 2019

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 restricted stock awards were vested and stock options were exercised, 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, 2019		September 30, 2018	September 30, 2019	September 30, 2018
Net income available to common stockholders, basic and diluted	$	51,610	49,336	153,134	132,279
Average outstanding shares - basic	90,294,811		84,518,407	86,911,402	83,294,111
Add: dilutive restricted stock awards and stock options	154,384		74,715	170,776	68,212
Average outstanding shares - diluted	90,449,195		84,593,122	87,082,178	83,362,323
Basic earnings per share	$	0.57	0.58	1.76	1.59
Diluted earnings per share	$	0.57	0.58	1.76	1.59
Restricted stock awards and stock options excluded from the diluted average outstanding share calculation ¹	4,037		—	1,360	—

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¹ Anti-dilution occurs when the unrecognized compensation cost per share of a restricted stock award or the exercise price of a stock option exceeds the market price of the Company’s stock.