	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(unaudited, in thousands, except shares and per share amounts)	2019		2018		2019		2018
Numerator for both basic and diluted earnings per common share:
Net income	$	37,347	$	32,486	$	122,497	$	99,184
Denominator:
Total average basic common shares outstanding		54,695,578		50,277,847		54,641,057		46,965,095
Effect of dilutive stock options and other stock compensation		55,766		154,265		64,704		142,734
Total diluted average common shares outstanding		54,751,344		50,432,112		54,705,761		47,107,829
Earnings per common share - basic	$	0.68	$	0.65	$	2.24	$	2.11
Earnings per common share - diluted	$	0.68	$	0.64	$	2.24	$	2.11

Options to purchase 352,250 shares and 0 shares at September 30, 2019 and 2018, respectively, were not included in the computation of net income per diluted share for the three months ended September 30, 2019, because the exercise price was greater than the average market price of the common share, therefore, the effect would be antidilutive. Options to purchase 352,250 and 117,600 shares at September 30, 2019 and 2018, respectively, were not included in the computation of net income per diluted share for the nine months ended September 30, 2019 and 2018, because the exercise price was greater than the average market price of the common share, therefore, the effect would be antidilutive.

As of September 30, 2019, no contingently issuable shares were estimated to be awarded under the 2019, 2018 and 2017 total shareholder return plans, as stock performance targets were not met and are therefore not included in the calculation because the effect would be antidilutive. As of September 30, 2018, 45,840 contingently issuable shares were estimated to be awarded under the 2018 and 2017 total shareholder return plans, as stock performance targets had been met to date and were included in the diluted calculation. Performance-based restricted stock compensation totaling 30,137 and 17,081 shares were estimated to be awarded as of September 30, 2019 and 2018, respectively, and are included in the diluted calculation.