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Stockholders' Equity
 6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity

Common Stock    
The following table provides a reconciliation of the beginning and ending shares of common stock outstanding for the six months ended June 30, 2019 and the year ended December 31, 2018:
 
June 30, 2019
 
December 31, 2018
Balance, beginning of period
125,279,455

 
125,131,593

Issuance of common stock
3,895,667

 
26,203

Nonvested share-based awards, net of withheld shares
70,221

 
121,659

Balance, end of period
129,245,343

 
125,279,455



Equity Offering
On March 19, 2019, the Company issued 3,737,500 shares of common stock, par value $0.01 per share, at $31.40 per share in an underwritten public offering pursuant to the Company's existing effective registration statement. The net proceeds of the offering, after underwriting discounts and offering expenses, were approximately $115.8 million.

At-The-Market Equity Offering Program
The Company sold 135,265 shares under the Company's at-the-market equity offering program during the six months ended June 30, 2019. The sales generated $4.3 million in net proceeds at prices to the public ranging from $32.01 to $32.86 (weighted average of $32.36). No shares were sold under this program in the second quarter of 2019.

The Company had 5,733,432 authorized shares remaining available to be sold under the current sales agreements as of July 26, 2019.

Common Stock Dividends
During the six months ended June 30, 2019, the Company declared and paid common stock dividends totaling $0.60 per share. On July 30, 2019, the Company declared a quarterly common stock dividend in the amount of $0.30 per share payable on August 30, 2019 to stockholders of record on August 15, 2019.

Earnings Per Common Share
The Company uses the two-class method of computing net earnings per common shares. The Company's nonvested share-based awards are considered participating securities pursuant to the two-class method. The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2019 and 2018.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(Dollars in thousands, except per share data)
2019
 
2018
 
2019
 
2018
Weighted average Common Shares outstanding
 
 
 
 
 
 
 
Weighted average Common Shares outstanding
129,228,102

 
125,217,707

 
127,577,389

 
125,192,557

Nonvested shares
(1,778,648
)
 
(1,933,073
)
 
(1,778,674
)
 
(1,921,489
)
Weighted average Common Shares outstanding—Basic
127,449,454

 
123,284,634

 
125,798,715

 
123,271,068

Weighted average Common Shares outstanding—Basic
127,449,454

 
123,284,634

 
125,798,715

 
123,271,068

Dilutive effect of employee stock purchase plan
75,153

 
36,371

 
90,640

 
53,092

Weighted average Common Shares outstanding—Diluted
127,524,607

 
123,321,005

 
125,889,355

 
123,324,160

Net Income
$
4,484

 
$
37,729

 
$
9,375

 
$
46,908

Dividends paid on nonvested share-based awards
(534
)
 
(582
)
 
(1,070
)
 
(1,160
)
Net income applicable to common stockholders
$
3,950

 
$
37,147

 
$
8,305

 
$
45,748

Basic earnings per common share - Net income
$
0.03

 
$
0.30

 
$
0.07

 
$
0.37

Diluted earnings per common share - Net income
$
0.03

 
$
0.30

 
$
0.07

 
$
0.37



Incentive Plans
A summary of the activity under the Company's share-based incentive plans for the three and six months ended June 30, 2019 and 2018 is included in the table below.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Share-based awards, beginning of period
1,784,127

 
1,930,342

 
1,769,863

 
1,907,645

Granted
24,996

 
30,989

 
89,767

 
107,751

Vested
(30,989
)
 
(23,231
)
 
(81,496
)
 
(77,296
)
Share-based awards, end of period
1,778,134

 
1,938,100

 
1,778,134

 
1,938,100



During the six months ended June 30, 2019 and 2018, the Company withheld 19,546 and 21,196 shares of common stock, respectively, from participants to pay estimated withholding taxes related to shares that vested.

In addition to the share-based incentive plans, the Company maintains the 2000 Employee Stock Purchase Plan (the "Purchase Plan"). A summary of the activity under the Purchase Plan for the three and six months ended June 30, 2019 and 2018 is included in the table below.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Outstanding and exercisable, beginning of period
390,776

 
366,731

 
328,533

 
318,100

Granted
—

 
—

 
235,572

 
203,836

Exercised
(4,386
)
 
(1,870
)
 
(19,016
)
 
(10,705
)
Forfeited
(23,172
)
 
(14,326
)
 
(39,797
)
 
(24,906
)
Expired
—

 
—

 
(142,074
)
 
(135,790
)
Outstanding and exercisable, end of period
363,218

 
350,535

 
363,218

 
350,535