EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 9 – EARNINGS PER SHARE

The following table presents earnings per share for the three and nine month periods ended September 30, 2022, and 2021.

	Three months ended				Nine months ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Basic:
Net income (loss) allocable to common stockholders	$	15,171	$	11,773	$	46,080	$	42,014
Weighted average common shares outstanding		16,056,366		14,384,285		16,301,500		14,393,853
Weighted average vested restricted stock units		292		17		2,086		3,293
Weighted average shares		16,056,658		14,384,302		16,303,586		14,397,146
Basic earnings (loss) per common share	$	0.94	$	0.82	$	2.83	$	2.92
Diluted:
Net income (loss) allocable to common stockholders	$	15,171	$	11,773	$	46,080	$	42,014
Weighted average common shares outstanding for:
Basic earnings per common share		16,056,658		14,384,302		16,303,586		14,397,146
Dilutive effects of the assumed exercise of stock options		88,530		158,768		95,435		178,314
Dilutive effects of the assumed vesting of restricted stock units		126,138		125,321		115,844		110,617
Dilutive effects of the assumed exercise of ESPP purchases		1,905		921		1,922		2,015
Average shares and dilutive potential common shares		16,273,231		14,669,312		16,516,787		14,688,092
Diluted earnings (loss) per common share	$	0.93	$	0.80	$	2.79	$	2.86

Average shares not included in the computation of diluted earnings per share because they were antidilutive are shown in the following table for the three and nine month periods ended September 30, 2022, and 2021.

	Three months ended				Nine months ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Stock options		275,471		291,680		204,982		298,629
Restricted stock units		1		—		—		—
Total antidilutive shares		275,472		291,680		204,982		298,629