Calculation of Earnings Per Share |
The following table presents the calculation of earnings per common share: | | | | | | | | | | | | | | | | | | | | | | | | (Dollars and shares in thousands, except per share amounts) | | | | | | | | | Three Months | | Nine Months | Periods ended September 30, | 2020 | | 2019 | | 2020 | | 2019 | Earnings per common share - basic: | | | | | | | | Net income | $18,322 | | | $18,814 | | | $51,263 | | | $53,582 | | Less dividends and undistributed earnings allocated to participating securities | (37) | | | (36) | | | (109) | | | (105) | | Net income available to common shareholders | $18,285 | | | $18,778 | | | $51,154 | | | $53,477 | | Weighted average common shares | 17,260 | | | 17,338 | | | 17,287 | | | 17,324 | | Earnings per common share - basic | $1.06 | | | $1.08 | | | $2.96 | | | $3.09 | | Earnings per common share - diluted: | | | | | | | | Net income | $18,322 | | | $18,814 | | | $51,263 | | | $53,582 | | Less dividends and undistributed earnings allocated to participating securities | (37) | | | (36) | | | (109) | | | (105) | | Net income available to common shareholders | $18,285 | | | $18,778 | | | $51,154 | | | $53,477 | | Weighted average common shares | 17,260 | | | 17,338 | | | 17,287 | | | 17,324 | | Dilutive effect of common stock equivalents | 57 | | | 76 | | | 82 | | | 82 | | Weighted average diluted common shares | 17,317 | | | 17,414 | | | 17,369 | | | 17,406 | | Earnings per common share - diluted | $1.06 | | | $1.08 | | | $2.95 | | | $3.07 | |
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