Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2022

Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share were as follows for the three- and six-month periods ended June 30, 2022 and 2021:


	Three Months Ended June 30,
(In Thousands, Except Share Data)	2022				2021
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	(10,457)	$	(10,457)	$	13,750	$	13,750
Weighted-average common shares outstanding	25,148,143		25,148,143		25,109,048		25,109,048
Add dilutive effect of restricted stock unit awards	—		—		—		219,700
Add dilutive effect of stock options	—		—		—		88,120
Weighted-average common shares outstanding	25,148,143		25,148,143		25,109,048		25,416,868
Earnings (loss) per common share	$	(0.42)	$	(0.42)	$	0.55	$	0.54
Awards excluded from diluted earnings per share calculation(1)	—		392,062		—		515,984

(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)	2022				2021
	Basic		Diluted		Basic		Diluted
Net income	$	17,892	$	17,892	$	32,452	$	32,452
Weighted-average common shares outstanding	25,124,644		25,124,644		25,097,545		25,097,545
Add dilutive effect of restricted stock unit awards	—		245,944		—		219,700
Add dilutive effect of stock options	—		40,061		—		77,483
Weighted-average common shares outstanding	25,124,644		25,410,649		25,097,545		25,394,728
Earnings per common share	$	0.71	$	0.70	$	1.29	$	1.28
Awards excluded from diluted earnings per share calculation(1)	—		733,940		—		515,984