Earnings Per Share

6 Months Ended

Jun. 30, 2021

EARNINGS PER SHARE

Basic earnings per common share data is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method.

The following table presents a summary of per common share data and amounts for the periods indicated.


	Three months ended June 30,				Six months ended June 30,
(in thousands, except per share data)	2021		2020		2021		2020
Net income as reported	$	38,405	$	14,634	$	68,331	$	27,502








Weighted average common shares outstanding	31,265		26,180		31,256		26,325

Additional dilutive common stock equivalents	47		15		49		29
Weighted average diluted common shares outstanding	31,312		26,195		31,305		26,354

Basic earnings per common share:	$	1.23	$	0.56	$	2.19	$	1.04
Diluted earnings per common share:	1.23		0.56		$	2.18	$	1.04

For the three and six months ended June 30, 2021 common stock equivalents of approximately 154,000 and 133,000, respectively, were excluded from the earnings per share calculations because their effect would have been anti-dilutive. Comparatively, there were 157,000 and 147,000 common stock equivalents excluded in the prior year periods. respectively.