Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share

Earnings Per Share

	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.