| 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 |
|
|