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Net Income Per Common Share (Tables)
12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Basic and Diluted Net Income Per Common Share

Basic and diluted net income per common share are calculated as follows:

 

 

 

Income

(Numerator)

 

 

Shares

(Denominator)

 

 

Per Share

Amount

 

 

 

(Dollars in thousands, except per share data)

 

Year Ended December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders

 

$

125,814

 

 

 

32,689,228

 

 

$

3.85

 

Effect of stock options

 

 

 

 

 

741,486

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders plus assumed

   exercises of stock options

 

$

125,814

 

 

 

33,430,714

 

 

$

3.76

 

Year Ended December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders

 

$

86,439

 

 

 

31,813,572

 

 

$

2.72

 

Effect of stock options

 

 

 

 

 

754,533

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders plus assumed

   exercises of stock options

 

$

86,439

 

 

 

32,568,105

 

 

$

2.65

 

Year Ended December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders

 

$

70,674

 

 

 

31,230,340

 

 

$

2.27

 

Effect of stock options

 

 

 

 

 

592,184

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders plus assumed

   exercises of stock options

 

$

70,674

 

 

 

31,822,524

 

 

$

2.22

 

Average Exercise Price of Options Excluded from Computation of Diluted Net Income Per Common Share

The following table shows the number and average exercise price of options that were excluded from the computation of diluted net income per common share for each year because the options were anti-dilutive for the period.

 

 

 

Shares

 

 

Average

Exercise Price

 

December 31, 2018

 

 

92,738

 

 

$

53.17

 

December 31, 2017

 

 

55,337

 

 

 

46.86

 

December 31, 2016

 

 

294,438

 

 

 

30.25