Earnings Per Share

6 Months Ended

Jun. 30, 2021

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, 2021		June 30, 2020	June 30, 2021	June 30, 2020
Net income available to common stockholders, basic and diluted	$	77,627	63,444	158,429	106,783
Average outstanding shares - basic	95,505,877		95,405,493	95,485,839	94,346,582
Add: dilutive restricted stock units and stock options	75,027		24,910	79,752	49,348
Average outstanding shares - diluted	95,580,904		95,430,403	95,565,591	94,395,930
Basic earnings per share	$	0.81	0.67	1.66	1.13
Diluted earnings per share	$	0.81	0.66	1.66	1.13
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 units or the exercise price of a stock option exceeds the market price of the Company’s stock.