Earnings per Common Share

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Earnings per Common Share

Note 3.  Earnings per Common Share

Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) No. 260-10-45 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting and, therefore, need to be included in the earnings allocation in computing earnings per share (“EPS”). The restricted stock awards granted by the Company contain non-forfeitable rights to dividends and therefore are considered participating securities. The two-class method for calculating basic EPS excludes dividends paid to participating securities and any undistributed earnings attributable to participating securities.

Earnings per common share have been computed based on the following:

	Years Ended December 31,
	2018		2017		2016
	(in thousands, except per share amounts)
Net income available to common stockholders	$	60,352	$	43,220	$	31,060
Earnings allocated to participating securities		(139)		(141)		(147)
Income attributable to common stock	$	60,213	$	43,079	$	30,913
Weighted average common shares outstanding, including participating securities		32,198		31,943		30,453
Weighted average participating securities		(74)		(41)		(54)
Weighted average common shares outstanding		32,124		31,902		30,399
Incremental shares from assumed conversions of options, performance units and restricted shares		233		335		291
Weighted average common and equivalent shares outstanding		32,357		32,237		30,690
Earnings per common share:
Basic	$	1.87	$	1.35	$	1.02
Diluted		1.86		1.34		1.01

There were no antidilutive common share equivalents as of December 31, 2018, 2017 and 2016.