Earnings Per Share

9 Months Ended

Sep. 30, 2021

Notes To Financial Statements

Earnings Per Share

3.     Earnings Per Share

Earnings per common share have been computed based on the following:

	For the three months ended						For the nine months ended
	September 30,						September 30,
	2021			2020			2021			2020
	(In thousands, except per share data)
Net income	$	25,413		$	14,331		$	63,710		$	31,213
Divided by:
Total weighted average common shares outstanding and common stock equivalents		31,567			28,874			31,616			28,865
Basic earnings per common share	$	0.81		$	0.50		$	2.02		$	1.08
Diluted earnings per common share (1)	$	0.81		$	0.50		$	2.02		$	1.08
Dividend payout ratio		25.9	%		42.0	%		31.2	%		58.3	%

(1) For the three and nine months ended September 30, 2021 and 2020, there were no common stock equivalents and there were no common stock equivalents that were anti-dilutive.