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 September 30,				Nine months ended September 30,
(Dollars in thousands, except share and per share data)	2018		2017		2018		2017
Net income	$	69,757	$	49,746	$	207,237	$	150,102

Weighted-average shares:
Basic weighted-average number of common shares outstanding		81,311,899		80,665,398		81,224,555		80,073,249

Dilutive effect of weighted-average outstanding common share equivalents
Warrants		234,105		399,957		268,988		409,019
Options		-		19,221		-		25,706
Restricted stock units		309,267		320,278		277,331		289,205
Diluted weighted-average number of common shares outstanding		81,855,271		81,404,854		81,770,874		80,797,179

Average stock options and restricted stock units with anti-dilutive effect		1,854		-		15,625		6,561
Earnings per common share:
Basic	$	0.86	$	0.62	$	2.55	$	1.87
Diluted	$	0.85	$	0.61	$	2.53	$	1.86