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Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Reconciliation of beginning and ending common stock outstanding
The following table provides a reconciliation of the beginning and ending shares of common stock outstanding for the nine months ended September 30, 2019 and the year ended December 31, 2018:
 
September 30, 2019
 
December 31, 2018
Balance, beginning of period
125,279,455

 
125,131,593

Issuance of common stock
6,099,012

 
26,203

Nonvested share-based awards, net of withheld shares (1)
(10,269
)
 
121,659

Balance, end of period
131,368,198

 
125,279,455


______
(1)
The Company's former Executive Chairman, David R. Emery, died on September 30, 2019 resulting in $2.9 million of expenses associated with the acceleration of his outstanding nonvested share-based awards. In connection with the vesting, 80,490 shares were withheld to pay employee federal income taxes.
Earnings (loss) per share The following table sets forth the computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2019 and 2018.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Dollars in thousands, except per share data)
2019
 
2018
 
2019
 
2018
Weighted average Common Shares outstanding
 
 
 
 
 
 
 
Weighted average Common Shares outstanding
129,865,985

 
125,233,462

 
128,348,638

 
125,206,342

Nonvested shares
(1,775,911
)
 
(1,933,653
)
 
(1,777,743
)
 
(1,925,589
)
Weighted average Common Shares outstanding—Basic
128,090,074

 
123,299,809

 
126,570,895

 
123,280,753

Weighted average Common Shares outstanding—Basic
128,090,074

 
123,299,809

 
126,570,895

 
123,280,753

Dilutive effect of employee stock purchase plan
78,610

 
52,147

 
85,690

 
54,763

Weighted average Common Shares outstanding—Diluted
128,168,684

 
123,351,956

 
126,656,585

 
123,335,516

Net Income
$
2,601

 
$
6,548

 
$
11,975

 
$
53,456

Dividends paid on nonvested share-based awards
(534
)
 
(580
)
 
(1,603
)
 
(1,740
)
Net income applicable to common stockholders
$
2,067

 
$
5,968

 
$
10,372

 
$
51,716

Basic earnings per common share - Net income
$
0.02

 
$
0.05

 
$
0.08

 
$
0.42

Diluted earnings per common share - Net income
$
0.02

 
$
0.05

 
$
0.08

 
$
0.42
Summary of the activity under the Incentive Plan
A summary of the activity under the Company's share-based incentive plans for the three and nine months ended September 30, 2019 and 2018 is included in the table below.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Share-based awards, beginning of period
1,778,134

 
1,938,100

 
1,769,863

 
1,907,645

Granted
—

 
—

 
89,767

 
107,751

Vested (1)
(204,548
)
 
(5,051
)
 
(286,044
)
 
(82,347
)
Share-based awards, end of period
1,573,586

 
1,933,049

 
1,573,586

 
1,933,049


______
(1)
The Company's former Executive Chairman, David R. Emery, died on September 30, 2019 resulting in the accelerated vesting of 204,548 outstanding nonvested share-based awards.
Summary of employee stock purchase plan activity A summary of the activity under the Purchase Plan for the three and nine months ended September 30, 2019 and 2018 is included in the table below.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Outstanding and exercisable, beginning of period
363,218

 
350,535

 
328,533

 
318,100

Granted
—

 
—

 
235,572

 
203,836

Exercised
(9,927
)
 
(2,531
)
 
(28,943
)
 
(13,236
)
Forfeited
(11,762
)
 
(9,583
)
 
(51,559
)
 
(34,489
)
Expired
—

 
—

 
(142,074
)
 
(135,790
)
Outstanding and exercisable, end of period
341,529

 
338,421

 
341,529

 
338,421