Earnings Per Common Share

The following table presents the calculation of earnings per common share:



(Dollars and shares in thousands, except per share amounts)
	Three Months						Nine Months
Periods ended September 30,	2018			2017			2018			2017
Earnings per common share - basic:
Net income		$17,511			$12,962			$51,396			$37,943
Less dividends and undistributed earnings allocated to participating securities	(36		)	(28		)	(112		)	(84		)
Net income applicable to common shareholders		$17,475			$12,934			$51,284			$37,859
Weighted average common shares	17,283			17,212			17,263			17,201
Earnings per common share - basic		$1.01			$0.75			$2.97			$2.20
Earnings per common share - diluted:
Net income		$17,511			$12,962			$51,396			$37,943
Less dividends and undistributed earnings allocated to participating securities	(36		)	(28		)	(112		)	(84		)
Net income applicable to common shareholders		$17,475			$12,934			$51,284			$37,859
Weighted average common shares	17,283			17,212			17,263			17,201
Dilutive effect of common stock equivalents	99			106			129			119
Weighted average diluted common shares	17,382			17,318			17,392			17,320
Earnings per common share - diluted		$1.01			$0.75			$2.95			$2.19

Weighted average common stock equivalents, not included in common stock equivalents above because they were anti-dilutive, totaled 41,525 and 46,692, respectively, for the three and nine months ended September 30, 2018. There were no anti-dilutive weighted average common stock equivalents outstanding for the three and nine months ended September 30, 2017.