Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2021

Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share were as follows for the three-month periods ended June 30, 2021 and 2020:


	Three Months Ended June 30,
(In Thousands, Except Share Data)	2021				2020
	Basic		Diluted		Basic		Diluted
Net income	$	13,750	$	13,750	$	5,960	$	5,960
Weighted-average common shares outstanding	25,109,048		25,109,048		25,024,855		25,024,855
Add dilutive effect of restricted stock unit awards	—		219,700		—		213,203
Add dilutive effect of stock options	—		88,120		—		17,546
Weighted-average common shares outstanding	25,109,048		25,416,868		25,024,855		25,255,604
Earnings per common share	$	0.55	$	0.54	$	0.24	$	0.24
Awards excluded from diluted earnings per share calculation(1)	—		515,984		—		815,279

(1)Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.


	Six Months Ended June 30,
(In Thousands, Except Share Data)	2021				2020
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	32,452	$	32,452	$	(66,574)	$	(66,574)
Weighted-average common shares outstanding	25,097,545		25,097,545		25,019,441		25,019,441
Add dilutive effect of restricted stock unit awards	—		219,700		—		—
Add dilutive effect of stock options	—		77,483		—		—
Weighted-average common shares outstanding	25,097,545		25,394,728		25,019,441		25,019,441
Earnings (loss) per common share	$	1.29	$	1.28	$	(2.66)	$	(2.66)
Awards excluded from diluted earnings per share calculation(1)	—		515,984		—		515,984