Earnings per Share

Basic earnings per share excludes dilution and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and resulted in the issuance of common stock that then shared in earnings. Outstanding stock options and restricted stock units with anti-dilutive effect were

not

included in the computation of diluted earnings per share. The following table sets forth earnings per common share calculations:

	Three months ended March 31,
(Dollars in thousands, except share and per share data)	2018		2017
Net income	$	63,816	$	48,941

Weighted-average shares:
Basic weighted-average number of common shares outstanding		81,123,380		79,703,593
Dilutive effect of weighted-average outstanding common share equivalents
Warrants		295,453		416,607
Options		-		33,888
Restricted stock units		261,612		259,090
Diluted weighted-average number of common shares outstanding		81,680,445		80,413,178

Average stock options and restricted stock units with anti-dilutive effect		38,906		19,900
Earnings per common share:
Basic	$	0.79	$	0.61
Diluted	$	0.78	$	0.61