Earnings Per Share

3 Months Ended

Mar. 31, 2019

EARNINGS PER SHARE

The computations of basic and diluted earnings per share follow:



	For the Three Months Ended March 31,
	2019					2018
Dollars in thousands,except per share amounts	Net Income (Numerator)		Common Shares (Denominator)	Per Share		Net Income (Numerator)		Common Shares (Denominator)	Per Share
Net income	$	7,092				$	7,443

Basic earnings per share	$	7,092	12,717,501	$	0.56	$	7,443	12,358,849	$	0.60

Effect of dilutive securities:
Stock options			5,313					7,521
Stock appreciation rights (SARs)			55,831					17,387

Diluted earnings per share	$	7,092	12,778,644	$	0.56	$	7,443	12,383,757	$	0.60

Stock option and stock appreciation right (SAR) grants are disregarded in this computation if they are determined to be anti-dilutive. Our anti-dilutive stock options for the quarters ended March 31, 2019 and March 31, 2018 were 7,700 shares and 15,600 shares respectively. Our anti-dilutive SARs for the quarters ended March 31, 2019 and March 31, 2018 were 222,740 and 87,615, respectively .