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Earnings Per Share ("EPS") | 6 Months Ended
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Jun. 30, 2019
Earnings Per Share [Abstract] |
Earnings Per Share ("EPS") | Earnings Per Share (“EPS”) Basic EPS does not reflect the possibility of dilution that could result from the issuance of additional shares of common stock upon exercise or conversion of outstanding equity awards or convertible notes and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if stock options, convertible notes, or other contracts to issue common stock were exercised or converted to common stock that would then share in earnings. For the three months ended June 30, 2019 and 2018, stock options and restricted shares awards for 982,625 and 306,136 shares of common stock, respectively, were excluded in computing diluted earnings per common share because they were anti-dilutive. For the six months ended June 30, 2019 and 2018, stock options and restricted shares awards for 959,319 and 303,338 shares of common stock, respectively, were excluded in computing diluted earnings per common share because they were anti-dilutive. Additionally, warrants issued pursuant to the Company’s participation in the U.S. Treasury’s TARP Capital Purchase Plan to purchase and 20,673 shares of common stock were anti-dilutive and excluded for the three and six months ended June 30, 2018. All outstanding warrants expired in December 2018. Therefore there were no warrants outstanding during the three and six months ended June 30, 2019. During the second quarter of 2018, the Company issued $217.5 million in convertible notes. The convertible notes can be converted into the Company’s shares of common stock at an initial rate of 45.0760 shares per $1,000 principal amount of the notes (See footnote 11 “Subordinated Debentures and Convertible Notes” for additional information regarding convertible notes issued). For the three and six months ended June 30, 2019 and 2018, shares related to the convertible notes issued were not included in the Company’s diluted EPS calculation. In accordance with the terms of the convertible notes and settlement options available to the Company, no shares would have been delivered to investors of the convertible notes upon assumed conversion based on the Company’s common stock price during the three and six months ended June 30, 2019 and 2018. On April 26, 2018, the Company’s Board of Directors approved a share repurchase program that authorized the Company to repurchase up to $100.0 million in common stock. On September 20, 2018, the Company’s Board of Directors approved another share repurchase program that authorized the Company to repurchase up to $50.0 million in common stock. During the year ended December 31, 2018, the Company repurchased 9,002,453 shares of common stock totaling $150.0 million. The repurchased shares were recorded as treasury stock and reduced the total number of common shares outstanding. The following tables show the computation of basic and diluted EPS for the three and six months ended June 30, 2019 and 2018.
| Three Months Ended June 30,
| 2019 |  | 2018
| Net Income (Numerator) |  | Weighted-Average Shares (Denominator) |  | Earnings Per Share |  | Net Income (Numerator) |  | Weighted-Average Shares (Denominator) |  | Earnings Per Share
| (Dollars in thousands, except share and per share data)
Basic EPS - common stock | $ | 42,681 |  |  | 126,658,509 |  |  | $ | 0.34 |  |  | $ | 47,530 |  |  | 133,061,304 |  |  | $ | 0.36 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Stock options, restricted stock, and ESPP shares |  |  | 211,946 |  |  |  |  |  |  | 291,537 |  |  |
Diluted EPS - common stock | $ | 42,681 |  |  | 126,870,455 |  |  | $ | 0.34 |  |  | $ | 47,530 |  |  | 133,352,841 |  |  | $ | 0.36 |
| Six Months Ended June 30,
| 2019 |  | 2018
| Net Income (Numerator) |  | Weighted-Average Shares (Denominator) |  | Earnings Per Share |  | Net Income (Numerator) |  | Weighted-Average Shares (Denominator) |  | Earnings Per Share
| (In thousands, except share and per share data)
Basic EPS - common stock | $ | 85,439 |  |  | 126,649,536 |  |  | $ | 0.67 |  |  | $ | 98,762 |  |  | 134,283,216 |  |  | $ | 0.74 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Stock options, restricted stock, and ESPP shares |  |  | 193,334 |  |  |  |  |  |  | 293,528 |  |  |
Diluted EPS - common stock | $ | 85,439 |  |  | 126,842,870 |  |  | $ | 0.67 |  |  | $ | 98,762 |  |  | 134,576,744 |  |  | $ | 0.73 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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