Earnings Per Share

3 Months Ended

Mar. 31, 2020

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 units 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
(Dollars in thousands, except per share data)	March 31, 2020		March 31, 2019
Net income available to common stockholders, basic and diluted	$	43,339	49,132
Average outstanding shares - basic	93,287,670		84,549,974
Add: dilutive restricted stock units and stock options	72,122		64,274
Average outstanding shares - diluted	93,359,792		84,614,248
Basic earnings per share	$	0.46	0.58
Diluted earnings per share	$	0.46	0.58
Restricted stock units and stock options excluded from the diluted average outstanding share calculation ¹	102,094		—

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