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EARNINGS PER SHARE (Tables)
12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Computation of Earnings Per Share

 

 

Twelve months ended December 31,

 

 

2018

 

 

2017

 

 

2016

 

 

(In thousands, except per share data)

 

Net income per consolidated statements of income

$

37,178

 

 

$

21,785

 

 

$

18,828

 

Net income allocated to participating securities

 

(182

)

 

 

(136

)

 

 

(121

)

Net income allocated to common stock

$

36,996

 

 

$

21,649

 

 

$

18,707

 

Basic earnings per common share computation:

 

 

 

 

 

 

 

 

 

 

 

Distributed earnings allocated to common stock

$

12,912

 

 

$

6,919

 

 

$

5,140

 

Undistributed earnings allocated to common stock

 

24,084

 

 

 

14,730

 

 

 

13,567

 

Net earnings allocated to common stock

$

36,996

 

 

$

21,649

 

 

$

18,707

 

Weighted average common shares outstanding, including shares

   considered participating securities

 

49,835

 

 

 

49,459

 

 

 

46,967

 

Less: Average participating securities

 

(244

)

 

 

(309

)

 

 

(301

)

Weighted average shares

 

49,591

 

 

 

49,150

 

 

 

46,666

 

Basic earnings per common share

$

0.75

 

 

$

0.44

 

 

$

0.40

 

Diluted earnings per common share computation:

 

 

 

 

 

 

 

 

 

 

 

Net earnings allocated to common stock

$

36,996

 

 

$

21,649

 

 

$

18,707

 

Weighted average common shares outstanding for basic earnings

   per common share

 

49,591

 

 

 

49,150

 

 

 

46,666

 

Add: Dilutive potential common shares

 

259

 

 

 

342

 

 

 

371

 

Weighted average shares and dilutive potential common shares

 

49,850

 

 

 

49,492

 

 

 

47,037

 

Diluted earnings per common share

$

0.74

 

 

$

0.44

 

 

$

0.40