Earnings Per Share

6 Months Ended

Jun. 30, 2021

Shareholders' Equity and Earnings Per Share

Earnings Per Share

2) Earnings Per Share

Basic earnings per common share is computed by dividing net income by the weighted average common shares outstanding. Diluted earnings per share reflect potential dilution from outstanding stock options using the treasury stock method. There were 1,057,945 and 1,722,342 weighted average stock options outstanding for the three months ended June 30, 2021 and 2020, and 1,072,945 and 1,490,688 for the six months ended June 30, 2021 and 2020, respectively, considered to be antidilutive and excluded from the computation of diluted earnings per share. A reconciliation of these factors used in computing basic and diluted earnings per common share is as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
	(Dollars in thousands, except per share amounts)
Net income	$	8,813	$	10,618	$	20,017	$	12,479
Weighted average common shares outstanding for basic
earnings per common share		60,089,327		59,420,592		60,008,071		59,353,759
Dilutive potential common shares		640,814		691,831		564,386		798,728
Shares used in computing diluted earnings per common share		60,730,141		60,112,423		60,572,457		60,152,487
Basic earnings per share	$	0.15	$	0.18	$	0.33	$	0.21
Diluted earnings per share	$	0.15	$	0.18	$	0.33	$	0.21