Earnings Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share

Earnings Per Share

2) 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 1,389,250 weighted average stock options outstanding for both the three months and six months ended June 30, 2022 considered to be antidilutive and excluded from the computation of diluted earnings per share. There were 1,057,945 weighted average stock options outstanding for the three months ended June 30, 2021 considered to be antidilutive and excluded from the computation of diluted earnings per share, and 1,072,945 for the six months ended June 30, 2021. A reconciliation of these factors used in computing basic and diluted earnings per common share is as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
	(Dollars in thousands, except per share amounts)
Net income	$	14,821	$	8,813	$	27,687	$	20,017
Weighted average common shares outstanding for basic
earnings per common share		60,542,170		60,089,327		60,468,027		60,008,071
Dilutive potential common shares		426,984		640,814		477,684		564,386
Shares used in computing diluted earnings per common share		60,969,154		60,730,141		60,945,711		60,572,457
Basic earnings per share	$	0.24	$	0.15	$	0.46	$	0.33
Diluted earnings per share	$	0.24	$	0.15	$	0.45	$	0.33