Calculation of Earnings Per Common Share |
The following table presents the calculation of earnings per common share: | | | | | | | | | | | | | (Dollars and shares in thousands, except per share amounts) | | | | | | Years ended December 31, | 2018 |
| | 2017 |
| | 2016 |
| Earnings per common share - basic: | | | | | | Net income |
| $68,432 |
| |
| $45,925 |
| |
| $46,481 |
| Less dividends and undistributed earnings allocated to participating securities | (144 | ) | | (108 | ) | | (97 | ) | Net income available to common shareholders |
| $68,288 |
| |
| $45,817 |
| |
| $46,384 |
| Weighted average common shares | 17,272 |
| | 17,207 |
| | 17,081 |
| Earnings per common share - basic |
| $3.95 |
| |
| $2.66 |
| |
| $2.72 |
| Earnings per common share - diluted: | | | | | | Net income |
| $68,432 |
| |
| $45,925 |
| |
| $46,481 |
| Less dividends and undistributed earnings allocated to participating securities | (144 | ) | | (108 | ) | | (97 | ) | Net income available to common shareholders |
| $68,288 |
| |
| $45,817 |
| |
| $46,384 |
| Weighted average common shares | 17,272 |
| | 17,207 |
| | 17,081 |
| Dilutive effect of common stock equivalents | 119 |
| | 131 |
| | 127 |
| Weighted average diluted common shares | 17,391 |
| | 17,338 |
| | 17,208 |
| Earnings per common share - diluted |
| $3.93 |
| |
| $2.64 |
| |
| $2.70 |
|
Weighted average common stock equivalents, not included in common stock equivalents above because they were anti-dilutive, totaled 55,821, 11,572 and 59,158 for the years ended December 31, 2018, 2017 and 2016, respectively.
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