Earnings Per Common Share

3 Months Ended

Mar. 31, 2021

Earnings per Common Share

The following table presents the calculation of earnings per common share:


(Dollars and shares in thousands, except per share amounts)

Three months ended March 31,	2021	2020
Earnings per common share - basic:
Net income	$20,471	$11,901
Less: dividends and undistributed earnings allocated to participating securities	(56)	(32)
Net income available to common shareholders	$20,415	$11,869
Weighted average common shares	17,275	17,345
Earnings per common share - basic	$1.18	$0.68
Earnings per common share - diluted:
Net income	$20,471	$11,901
Less: dividends and undistributed earnings allocated to participating securities	(56)	(32)
Net income available to common shareholders	$20,415	$11,869
Weighted average common shares	17,275	17,345
Dilutive effect of common stock equivalents	156	96
Weighted average diluted common shares	17,431	17,441
Earnings per common share - diluted	$1.17	$0.68

Weighted average common stock equivalents, not included in common stock equivalents above because they were anti-dilutive, totaled 149,575 and 152,010, respectively, for the three months ended March 31, 2021 and 2020.