Earnings Per Share

9 Months Ended

Sep. 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			Nine Months ended
(Dollars in thousands, except per share data)	September 30, 2021		September 30, 2020	September 30, 2021	September 30, 2020
Net income available to common stockholders, basic and diluted	$	75,619	77,757	234,048	184,540
Average outstanding shares - basic	95,510,772		95,411,656	95,494,211	94,704,198
Add: dilutive restricted stock units and stock options	75,430		30,920	79,308	43,696
Average outstanding shares - diluted	95,586,202		95,442,576	95,573,519	94,747,894
Basic earnings per share	$	0.79	0.81	2.45	1.95
Diluted earnings per share	$	0.79	0.81	2.45	1.95
Restricted stock units and stock options excluded from the diluted average outstanding share calculation 1	—		93,253	—	78,605

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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.