Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Calculation Of Earnings Per Share

	Nine Months Ended				Three Months Ended
	September 30,				September 30,
(dollars in thousands, except per share data)	2018		2017		2018		2017
Net income	$	31,483	$	27,556	$	10,057	$	9,342
Income allocated to participating securities (1)		86		101		26		34
Income allocated to common stockholders	$	31,397	$	27,455	$	10,031	$	9,308
Weighted average:
Common shares		25,236,889		24,096,079		25,409,087		24,332,939
Dilutive stock options and restricted stock units (1)		174,095		253,715		144,933		247,127
		25,410,984		24,349,794		25,554,020		24,580,066
Earnings per share:
Basic		$1.24		$1.14		$.39		$.38
Diluted		1.24		1.13		.39		.38

(1) Restricted stock units (“RSUs”) awarded in 2016 accrue dividends at the same rate as the dividends declared by the Board of Directors on the Corporation’s common stock. For purposes of computing EPS, these RSUs are considered to participate with common stock in the earnings of the Corporation and, therefore, the Corporation calculates basic and diluted EPS using the two-class method. Under the two-class method, net income for the period is allocated between common stockholders and participating securities according to dividends declared and participation rights in undistributed earnings. As a result, the RSUs awarded in 2016 are not included in the weighted average “dilutive stock options and restricted stock units” in the table above.