Earnings Per Share

12 Months Ended

Dec. 31, 2020

Note 18. Earnings Per Share

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:


	Years ended
(Dollars in thousands, except per share data)	December 31, 2020		December 31, 2019	December 31, 2018
Net income available to common stockholders, basic and diluted	$	266,400	210,544	181,878
Average outstanding shares - basic	94,883,864		88,255,290	83,603,515
Add: dilutive restricted stock units and stock options	48,489		130,485	73,670
Average outstanding shares - diluted	94,932,353		88,385,775	83,677,185
Basic earnings per share	$	2.81	2.39	2.18
Diluted earnings per share	$	2.81	2.38	2.17
Restricted stock units and stock options excluded from the diluted average outstanding share calculation 1	88,240		—	1,357

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