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Earnings Per Common Share

12 Months Ended

Dec. 31, 2019

Note 13—Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share:


	Year Ended December 31,
(Dollars and shares in thousands, except for per share amounts)	2019		2018		2017
Basic earnings per common share:
Net income	$	186,483	$	178,871	$	87,554
Weighted-average basic common shares		34,561		36,530		29,686
Basic earnings per common share	$	5.40	$	4.90	$	2.95
Diluted earnings per share:
Net income	$	186,483	$	178,871	$	87,554
Weighted-average basic common shares		34,561		36,530		29,686
Effect of dilutive securities		236		246		236
Weighted-average dilutive shares		34,797		36,776		29,922
Diluted earnings per common share	$	5.36	$	4.86	$	2.93

The calculation of diluted earnings per common share excludes outstanding stock options for which the results would have been antidilutive under the treasury stock method as follows:


	Year Ended December 31,
(Dollars in thousands)	2019					2018					2017
Number of shares					62,235					62,235					34,712
Range of exercise prices	$	87.30	to	$	91.35	$	87.30	to	$	91.35	$	69.48	to	$	91.35