Earnings per Share

12 Months Ended

Dec. 31, 2021

The following table sets forth the computation of basic and diluted earnings per share:


	For the Years Ended December 31,
(Dollars and shares in thousands, except per share data)	2021		2020		2019
Numerator:
Net income	$	91,801	$	46,916	$	65,719
Net income allocated to unvested restricted stock awards	(26)		(69)		(236)
Net income allocated to common shares	$	91,775	$	46,847	$	65,483
Denominator:
Weighted average shares outstanding	29,403		29,244		29,300
Average unvested restricted stock awards	(8)		(46)		(107)
Denominator for basic earnings per share—weighted-average shares outstanding	29,395		29,198		29,193
Effect of dilutive securities—employee stock options and restricted stock units	159		70		68
Denominator for diluted earnings per share—adjusted weighted-average shares outstanding	29,554		29,268		29,261
Basic earnings per share	$	3.12	$	1.60	$	2.24
Diluted earnings per share	$	3.11	$	1.60	$	2.24
Average anti-dilutive options and restricted stock units excluded from computation of diluted earnings per share	277		491		325