EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2022

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE J – EARNINGS PER SHARE

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

	March 31
	2022		2021
	(in thousands, except share and per share data)
Basic
Numerator:
Net income	$	69,569	$	23,361
Denominator:
Weighted-average shares		24,710,685		25,454,921
Earnings per common share	$	2.82	$	0.92
Diluted
Numerator:
Net income	$	69,569	$	23,361
Denominator:
Weighted-average shares		24,710,685		25,454,921
Effect of dilutive securities		1,200,515		1,475,481
Adjusted weighted-average shares and assumed conversions		25,911,200		26,930,402
Earnings per common share	$	2.68	$	0.87