Net Income per Common Share

9 Months Ended

Sep. 30, 2020

Note 10. Net Income per Common Share

The calculation of net income per common share for the three and nine months ended September 30, 2020 and 2019 (unaudited) was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars and shares in thousands, except per share data)	2020		2019		2020		2019
Basic:
Net income	$	41,346	$	36,495	$	93,325	$	107,487
Average common shares outstanding	32,229		34,233		32,434		34,418
Basic net income per common share	$	1.28	$	1.07	$	2.88	$	3.12

Diluted:
Net income	$	41,346	$	36,495	$	93,325	$	107,487
Average common shares outstanding	32,229		34,233		32,434		34,418
Adjustment for common share equivalents	22		23		24		33
Average common shares outstanding-diluted	32,251		34,256		32,458		34,451
Diluted net income per common share	$	1.28	$	1.07	$	2.88	$	3.12

Anti-dilutive shares	26		2		26		20