Three Months Ended September 30,

Nine Months Ended September 30,

(dollars in thousands, except per share data)

2021

2020

2021

2020

Net income

$

19,548

$

86

$

58,210

$

14,204

Common shareholder dividends

(6,239)

(6,047)

(18,741)

(18,732)

Unvested restricted stock award dividends

(60)

(64)

(186)

(194)

Undistributed earnings to unvested restricted stock awards

(126)

—

(386)

—

Undistributed earnings to common shareholders

$

13,123

$

(6,025)

$

38,897

$

(4,722)

Basic

Distributed earnings to common shareholders

$

6,239

$

6,047

$

18,741

$

18,732

Undistributed earnings to common shareholders

13,123

(6,025)

38,897

(4,722)

Total common shareholders earnings, basic

$

19,362

$

22

$

57,638

$

14,010

Diluted

Distributed earnings to common shareholders

$

6,239

$

6,047

$

18,741

$

18,732

Undistributed earnings to common shareholders

13,123

(6,025)

38,897

(4,722)

Total common shareholders earnings

19,362

22

57,638

14,010

Add back:

Undistributed earnings reallocated from unvested restricted stock awards

—

1

—

Total common shareholders earnings, diluted

$

19,362

$

22

$

57,639

$

14,010

Weighted average common shares outstanding, basic

22,520,499

22,937,837

22,544,898

23,567,000

Options

57,381

—

69,074

11,518

Weighted average common shares outstanding, diluted

22,577,880

22,937,837

22,613,972

23,578,518

Basic earnings per common share

$

0.86

$

0.00

$

2.56

$

0.59

Diluted earnings per common share

0.86

0.00

2.55

0.59