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. |
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