Earnings Per Share

12 Months Ended

Dec. 31, 2021

Note 18. Earnings Per Share

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:


	Years ended
(Dollars in thousands, except per share data)	December 31, 2021		December 31, 2020	December 31, 2019
Net income available to common stockholders, basic and diluted	$	284,757	266,400	210,544
Average outstanding shares - basic	99,313,255		94,883,864	88,255,290
Add: dilutive restricted stock units and stock options	84,995		48,489	130,485
Average outstanding shares - diluted	99,398,250		94,932,353	88,385,775
Basic earnings per share	$	2.87	2.81	2.39
Diluted earnings per share	$	2.86	2.81	2.38
Restricted stock units and stock options excluded from the diluted average outstanding share calculation 1	194		88,240	—

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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.