EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2019

EARNINGS PER SHARE

Schedule of computation of basic and diluted earnings (loss) per share

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended
	March 31
	2019		2018
	(in thousands, except share and per share data)
Basic
Numerator:
Net income	$	4,888	$	9,954
Effect of unvested restricted stock awards		(9)		(30)
Adjusted net income	$	4,879	$	9,924
Denominator:
Weighted-average shares		25,570,415		25,642,871
Earnings per common share	$	0.19	$	0.39
Diluted
Numerator:
Net income	$	4,888	$	9,954
Effect of unvested restricted stock awards		(9)		(29)
Adjusted net income	$	4,879	$	9,925
Denominator:
Weighted-average shares		25,570,415		25,642,871
Effect of dilutive securities		941,934		953,505
Adjusted weighted-average shares and assumed conversions		26,512,349		26,596,376
Earnings per common share	$	0.18	$	0.37