Earnings Per Common Share

6 Months Ended

Jun. 30, 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		Six Months
Periods ended June 30,	2021	2020	2021	2020
Earnings per common share - basic:
Net income	$17,460	$21,040	$37,931	$32,941
Less: dividends and undistributed earnings allocated to participating securities	(52)	(40)	(108)	(72)
Net income available to common shareholders	$17,408	$21,000	$37,823	$32,869
Weighted average common shares	17,314	17,257	17,295	17,301
Earnings per common share - basic	$1.01	$1.22	$2.19	$1.90
Earnings per common share - diluted:
Net income	$17,460	$21,040	$37,931	$32,941
Less: dividends and undistributed earnings allocated to participating securities	(52)	(40)	(108)	(72)
Net income available to common shareholders	$17,408	$21,000	$37,823	$32,869
Weighted average common shares	17,314	17,257	17,295	17,301
Dilutive effect of common stock equivalents	122	35	150	76
Weighted average diluted common shares	17,436	17,292	17,445	17,377
Earnings per common share - diluted	$1.00	$1.21	$2.17	$1.89

Weighted average common stock equivalents, not included in common stock equivalents above because they were anti-dilutive, totaled 87,924 and 149,650, respectively, for the three and six months ended June 30, 2021, compared to 256,721 and 220,305, respectively, for the same periods in 2020.