Shareholders' Equity and Earnings Per Share

3 Months Ended

Mar. 31, 2020

Shareholders' Equity and Earnings Per Share.

Shareholders' Equity and Earnings Per Share

2) Shareholders’ Equity and Earnings Per Share

Basic earnings per common share is computed by dividing net income by the weighted average common shares outstanding. Diluted earnings per share reflect potential dilution from outstanding stock options using the treasury stock method. There were 908,276 and 539,000 stock options for the three months ended March 31, 2020 and 2019, respectively, considered to be antidilutive and excluded from the computation of diluted earnings per share. A reconciliation of these factors used in computing basic and diluted earnings per common share is as follows:

	Three Months Ended
	March 31,
	2020		2019
	(Dollars in thousands, except per share amounts)
Net income	$	1,861	$	12,146
Weighted average common shares outstanding for basic
earnings per common share		59,286,927		43,108,208
Dilutive potential common shares		907,098		562,133
Shares used in computing diluted earnings per common share		60,194,025		43,670,341
Basic earnings per share	$	0.03	$	0.28
Diluted earnings per share	$	0.03	$	0.28