Earnings Per Common Share ("EPS") (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Reconciliation of Earnings and Shares Used in Calculating Basic and Diluted EPS

The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS (in thousands, except per share amounts).

	Three months ended June 30,						Six months ended June 30,
	2022			2021			2022			2021
Net income available to common shareholders	$	15,283		$	19,834		$	29,902		$	40,179
Weighted average common shares outstanding:
Total shares issued		16,100			16,100			16,100			16,100
Unvested restricted stock awards		(5	)		(6	)		(5	)		(6	)
Treasury shares		(789	)		(269	)		(655	)		(237	)
Total basic weighted average common shares outstanding		15,306			15,825			15,440			15,857
Incremental shares from assumed:
Vesting of restricted stock awards		79			88			92			86
Total diluted weighted average common shares outstanding		15,385			15,913			15,532			15,943
Basic earnings per common share	$	1.00		$	1.25		$	1.94		$	2.53
Diluted earnings per common share	$	0.99		$	1.25		$	1.93		$	2.52

Shares Excluded from Computation of Diluted EPS

For each of the periods presented, average shares subject to the following instruments were excluded from the computation of diluted EPS because the effect would be antidilutive (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Stock option		—		—		—		—
Restricted stock awards		21		1		15		6
Total		21		1		15		6