EARNINGS PER SHARE

The computations of basic and diluted earnings per share were as follows:



	Three Months Ended March 31,
(in thousands, except per share data)	2019			2018
Earnings Per Common Share - Basic:
Net income	$	100,131		$	63,621
Less: Preferred stock dividends	3,598			3,598
Less: Dividends and undistributed earnings allocated to unvested restricted shares	933			639
Net income allocated to common shareholders - basic	$	95,600		$	59,384
Weighted average common shares outstanding	54,177			53,616
Earnings per common share - basic	1.76			1.11
Earnings Per Common Share - Diluted:
Earnings allocated to common shareholders - basic	$	95,600		$	59,384
Adjustment for undistributed earnings allocated to unvested restricted shares	(42		)	(18		)
Earnings allocated to common shareholders - diluted	$	95,558		$	59,366
Weighted average common shares outstanding	54,177			53,616
Dilutive potential common shares	362			351
Weighted average common shares outstanding - diluted	54,539			53,967
Earnings per common share - diluted	$	1.75		$	1.10

For the three months ended March 31, 2019, and 2018, the calculations for basic shares outstanding excluded weighted average shares owned by the RRP of 564,188 and 606,442, respectively.

The effects from the assumed exercises of 155,757 and 156,737 stock options were not included in the computation of diluted earnings per share for the three months ended March 31, 2019 and 2018, respectively, because they were antidilutive.