EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2022

Earnings Per Share

Earnings Per Share

Note 3–Earnings Per Share

Basic earnings per common share is computed using the weighted average number of shares outstanding. Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributable to non-vested stock units and stock options outstanding, if dilutive.

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net income	$	25,398	$	17,292	$	47,190	$	27,476
Denominator:
Denominator for basic earnings per share		26,268		26,187		26,262		26,180
Dilutive effect of employee stock awards		161		172		155		181
Denominator for diluted earnings per share		26,429		26,359		26,417		26,361
Earnings per share:
Basic	$	0.97	$	0.66	$	1.80	$	1.05
Diluted	$	0.96	$	0.66	$	1.79	$	1.04

For the three and six months ended June 30, 2022 and 2021, the Company had no outstanding non-vested stock units that were excluded from the computation of diluted earnings per share because including them would have had an anti-dilutive effect.