Earnings Per Share

6 Months Ended

Jun. 30, 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				Six Months ended
(Dollars in thousands, except per share data)	June 30, 2020		June 30, 2019	June 30, 2020	June 30, 2019
Net income available to common stockholders, basic and diluted	$	63,444	52,392	106,783	101,524
Average outstanding shares - basic	95,405,493		85,826,290	94,346,582	85,191,658
Add: dilutive restricted stock units and stock options	24,910		31,996	49,348	49,580
Average outstanding shares - diluted	95,430,403		85,858,286	94,395,930	85,241,238
Basic earnings per share	$	0.67	0.61	1.13	1.19
Diluted earnings per share	$	0.66	0.61	1.13	1.19
Restricted stock units and stock options excluded from the diluted average outstanding share calculation ¹	143,938		—	121,533	—

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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.