Earnings Per Common Share

6 Months Ended

Jun. 30, 2019

Earnings per common share is computed using the two-class method as more fully described in the Company’s 2018 Form 10-K. A reconciliation of the numerator and denominator of the basic and diluted earnings per common share computation for the three and six months ended June 30, 2019 and 2018 is as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Basic earnings per share:
Numerator:
Net income	$	26,983		$	27,837		$	56,063		$	53,599
Distributed and undistributed earnings to participating securities	(146		)	(67		)	(273		)	(143		)
Income available to common shareholders	$	26,837		$	27,770		$	55,790		$	53,456
Denominator:
Weighted average common shares outstanding	48,762,922			48,287,755			48,674,727			48,242,925
Less: Average unallocated ESOP shares	(1,121,344		)	(1,174,297		)	(1,127,926		)	(1,180,879		)
Average unvested restricted stock awards	(258,264		)	(113,053		)	(231,625		)	(125,323		)
Average shares for basic earnings per share	47,383,314			47,000,405			47,315,176			46,936,723
Basic earnings per common share	$	0.57		$	0.59		$	1.18		$	1.14
Diluted earnings per share:
Numerator:
Income available to common shareholders	$	26,837		$	27,770		$	55,790		$	53,456
Denominator:
Average shares for basic earnings per share	47,383,314			47,000,405			47,315,176			46,936,723
Dilutive effect of share-based compensation plan	540,077			617,752			561,917			651,373
Average shares for diluted earnings per share	47,923,391			47,618,157			47,877,093			47,588,096
Diluted earnings per common share	$	0.56		$	0.58		$	1.17		$	1.12
Share awards excluded in the computation of diluted earnings per share because the exercise price was greater than the common stock average market price and were therefore antidilutive	254,171			479,531			348,630			553,390

LegacyTexas Financial Group, Inc. 10-Q