Earnings Per Common Share

3 Months Ended

Mar. 31, 2022

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,	2022	2021
Earnings for basic and diluted earnings per common share:
Net income	$16,483	$20,471
Less: dividends and undistributed earnings allocated to participating securities	(54)	(56)
Net income available to common shareholders	$16,429	$20,415

Shares:




Weighted average common shares	17,331	17,275
Dilutive effect of common stock equivalents	151	156
Weighted average diluted common shares	17,482	17,431

Earnings per common share:
Basic earnings per common share	$0.95	$1.18
Diluted earnings per common share	$0.94	$1.17

Weighted average common stock equivalents, not included in common stock equivalents above because they were anti-dilutive, totaled 94,175 and 149,575, respectively, for the three months ended March 31, 2022 and 2021.