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Earnings Per Common Share (Tables)
9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Summary of Earnings Per Common Share

Earnings per common share are calculated as follows:

 

 

 

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