Earnings Per Share

12 Months Ended

Dec. 31, 2020

EARNINGS PER SHARE

The factors used in the earnings per share computation follow:


	Year Ended December 31,
(Dollars in thousands)	2020		2019		2018
Basic
Net income to common stockholders	$	62,323	$	58,544	$	51,130
Weighted average common shares outstanding	24,387,932		25,941,395		24,791,448
Basic earnings per common share	$	2.56	$	2.26	$	2.06

Diluted
Net income to common stockholders	$	62,323	$	58,544	$	51,130
Dilutive effect of preferred stock	—		—		578
Net income to common stockholders - diluted	$	62,323	$	58,544	$	51,708
Weighted average common shares outstanding	24,387,932		25,941,395		24,791,448
Dilutive effects of:
Assumed conversion of Preferred A	—		—		258,674
Assumed conversion of Preferred B	—		—		290,375
Assumed exercises of stock options	64,104		63,808		84,126
Restricted stock awards	86,498		47,242		52,851
Restricted stock units	25,978		3,441		3,039
Performance stock units - market based	51,304		4,119		—
Performance stock units - performance based	—		—		—
Average shares and dilutive potential common shares	24,615,816		26,060,005		25,480,513
Diluted earnings per common share	$	2.53	$	2.25	$	2.03

Shares that were not considered in computing diluted earnings per common share because they were antidilutive are as follows:


	Years Ended December 31,
	2020	2019	2018
Assumed conversion of Preferred A	—	—	—
Assumed conversion of Preferred B	—	—	—
Stock options	64,947	66,019	51,952
Restricted stock awards	—	—	—
Restricted stock units	—	—	—
Performance stock units - market based	—	55,228	59,658
Performance stock units - performance based	256,625	254,000	—