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EARNINGS PER COMMON SHARE (Tables)
9 Months Ended
Sep. 30, 2020
EARNINGS PER COMMON SHARE [Abstract]  
Components of Calculation of Earnings Per Share

The components of the calculation of basic earnings per share and diluted earnings per share are as follows:

Three Months Ended September 30,

Nine Months Ended September 30,

(Dollars in thousands)

2020

2019

2020

2019

Net income/(loss)

$

13,981

$

(11,095)

$

111,358

$

(16,721)

Weighted average common shares outstanding:

Basic

27,932,928

29,249,233

28,517,037

29,217,188

Diluted

28,026,005

29,249,233

28,665,961

29,217,188

Reconciliations of the numerator of the basic and diluted earnings per share computations are as follows:

Three Months Ended September 30,

Nine Months Ended September 30,

(Dollars in thousands)

2020

2019

2020

2019

Net income/(loss) allocated to:

Common Stockholders

$

13,955

$

(11,095)

$

111,176

$

(16,721)

Participating securities

26

182

$

13,981

$

(11,095)

$

111,358

$

(16,721)