EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2021

EARNINGS PER SHARE

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

	Three Months Ended				Six Months Ended
	June 30				June 30
	2021		2020		2021		2020
	(in thousands, except share and per share data)
Basic
Numerator:
Net income	$	60,981	$	15,880	$	84,342	$	17,782
Effect of unvested restricted stock awards		—		(17)		—		(18)
Adjusted net income	$	60,981	$	15,863	$	84,342	$	17,764
Denominator:
Weighted-average shares		25,586,353		25,463,559		25,522,453		25,468,624
Earnings per common share	$	2.38	$	0.62	$	3.30	$	0.70
Diluted
Numerator:
Net income	$	60,981	$	15,880	$	84,342	$	17,782
Effect of unvested restricted stock awards		—		(17)		—		(18)
Adjusted net income	$	60,981	$	15,863	$	84,342	$	17,764
Denominator:
Weighted-average shares		25,586,353		25,463,559		25,522,453		25,468,624
Effect of dilutive securities		1,324,443		754,398		1,403,680		783,862
Adjusted weighted-average shares and assumed conversions		26,910,796		26,217,957		26,926,133		26,252,486
Earnings per common share	$	2.27	$	0.61	$	3.13	$	0.68