Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Common Share

Schedule of Calculation of Numerator and Denominator in Earnings Per Share

The following table represents the earnings per share calculations for the three and nine months ended September 30, 2021 and 2020.

		Three Months Ended			Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
(in thousands, except share and per share amounts)
Net income available to common shareholders	$	13,304	$	8,618	$	38,482	$	12,591
Weighted average shares outstanding
Basic (1)		20,308,761		21,500,735		20,340,182		21,553,953
Effect of dilutive securities:
Stock options and performance share awards		198,843		43,070		168,593		86,104
Diluted		20,507,604		21,543,805		20,508,775		21,640,057
Net income per common share:
Basic	$	0.66	$	0.40	$	1.89	$	0.58
Diluted		0.65		0.40	$	1.88	$	0.58

(1) Unvested restricted shares are participating securities and included in basic share calculations.