Earnings Per Share

Basic earnings per share excludes dilution and is computed by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding for the period, excluding common shares in treasury. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted from the issuance of common stock that would then share in earnings and excludes common shares in treasury. Stock options exercisable for shares of common stock are excluded from the computation of diluted earnings per share if they are anti-dilutive due to their exercise price exceeding the average market price during the period. The dilutive impact of these securities could be included in future computations of diluted earnings per share if the market price of the common stock increases. The following table sets forth the weighted average number of stock options excluded for the periods indicated:



	Three Months Ended			Nine Months Ended
	September 30,	June 30,	September 30,	September 30,
	2018	2018	2017	2018	2017

Weighted average stock options excluded	—	—	10,036	7,530	12,192

The following tables set forth the Company’s earnings per share calculations for the periods indicated:



	Three Months Ended
	September 30, 2018					June 30, 2018					September 30, 2017
	Net Income		Shares	Per Share Amount		Net Income		Shares	Per Share Amount		Net Income		Shares	Per Share Amount
	(dollars in thousands, except per share data)
Net income	$	28,392				$	27,303				$	20,232
Basic income available to common stockholders	28,392		61,727,030	$	0.46	27,303		46,053,077	$	0.59	20,232		39,709,565	$	0.51
Dilutive effect of share-based compensation	—		634,774			—		649,891			—		776,549
Diluted income available to common stockholders plus assumed conversions	$	28,392	62,361,804	$	0.46	$	27,303	46,702,968	$	0.58	$	20,232	40,486,114	$	0.50



	Nine Months Ended September 30,
	2018					2017
	Net Income		Shares	Per Share Amount		Net Income		Shares	Per Share Amount
	(dollars in thousands, except per share data)
Net income	$	83,697				$	43,929
Basic income available to common stockholders	83,697		51,282,533	$	1.63	43,929		35,652,626	$	1.23
Effect of dilutive stock options and warrants			683,114					803,319
Diluted income available to common stockholders plus assumed conversions	$	83,697	51,965,647	$	1.61	$	43,929	36,455,945	$	1.20