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Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2020
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 six months ended June 30, 2020 and the year ended December 31, 2019:
 
JUNE 30, 2020

DECEMBER 31, 2019

Balance, beginning of period
134,706,154

125,279,455

Issuance of common stock
1,286,743

9,251,440

Nonvested share-based awards, net of withheld shares
55,274

175,259

Balance, end of period
136,048,171

134,706,154
Earnings (loss) per share
The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2020 and 2019.
 
THREE MONTHS ENDED JUNE 30,
SIX MONTHS ENDED JUNE 30,
Dollars in thousands, except per share data
2020

2019

2020

2019

Weighted average common shares outstanding
 
 
 
 
Weighted average common shares outstanding
135,367,081

129,228,102

135,062,708

127,577,389

Non-vested shares
(1,733,435
)
(1,778,648
)
(1,727,762
)
(1,778,674
)
Weighted average common shares outstanding - basic
133,633,646

127,449,454

133,334,946

125,798,715

 
 
 
 
 
Weighted average common shares outstanding - basic
133,633,646

127,449,454

133,334,946

125,798,715

Dilutive effect of forward equity shares
—

—

2,149

—

Dilutive effect of employee stock purchase plan
62,266

75,153

83,217

90,640

Weighted average common shares outstanding - diluted
133,695,912

127,524,607

133,420,312

125,889,355

 
 
 
 
 
Net Income
$
75,513

$
4,484

$
79,828

$
9,375

Dividends paid on nonvested share-based awards
(521
)
(534
)
(1,039
)
(1,070
)
Net income applicable to common stockholders
$
74,992

$
3,950

$
78,789

$
8,305

 
 
 
 
 
Basic earnings per common share - net income
$
0.56

$
0.03

$
0.59

$
0.07

Diluted earnings per common share - net income
$
0.56

$
0.03

$
0.59

$
0.07
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 six months ended June 30, 2020 and 2019 is included in the table below.
 
THREE MONTHS ENDED JUNE 30,
SIX MONTHS ENDED JUNE 30,
 
2020

2019

2020

2019

Share-based awards, beginning of period
1,724,761

1,784,127

1,754,066

1,769,863

Granted
39,493

24,996

78,837

89,767

Vested
(24,996
)
(30,989
)
(93,645
)
(81,496
)
Share-based awards, end of period
1,739,258

1,778,134

1,739,258

1,778,134
Summary of employee stock purchase plan activity A summary of the activity under the Purchase Plan for the three and six months ended June 30, 2020 and 2019 is included in the table below.
 
THREE MONTHS ENDED JUNE 30,
SIX MONTHS ENDED JUNE 30,
 
2020

2019

2020

2019

Outstanding and exercisable, beginning of period
370,696

390,776

332,659

328,533

Granted
—

—

212,716

235,572

Exercised
(2,463
)
(4,386
)
(14,367
)
(19,016
)
Forfeited
(6,514
)
(23,172
)
(29,495
)
(39,797
)
Expired
—

—

(139,794
)
(142,074
)
Outstanding and exercisable, end of period
361,719

363,218

361,719

363,218