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Earnings Per Share ("EPS") (Tables)
12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Reconciliation of Net Income and Shares Outstanding to Income and Number of Shares Used to Compute EPS

The following is a reconciliation of net income and shares outstanding to the income and number of shares used to compute EPS:

 

 

 

2019

 

 

2018

 

 

2017

 

(dollars in thousands except per share amounts)

 

Income

 

 

Shares

 

 

Income

 

 

Shares

 

 

Income

 

 

Shares

 

Net income as reported

 

$

39,209

 

 

 

 

 

 

$

36,105

 

 

 

 

 

 

$

25,528

 

 

 

 

 

Less: Earnings allocated to Participating Securities

 

 

(74

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares outstanding

 

 

 

 

 

 

20,030,866

 

 

 

 

 

 

 

20,000,022

 

 

 

 

 

 

 

15,908,893

 

Impact of weighting shares

 

 

 

 

 

 

(13,560

)

 

 

 

 

 

 

(2,848,800

)

 

 

 

 

 

 

(1,830,612

)

Used in basic EPS

 

 

39,135

 

 

 

20,017,306

 

 

 

36,105

 

 

 

17,151,222

 

 

 

25,528

 

 

 

14,078,281

 

Dilutive effect of outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

 

 

 

 

376,118

 

 

 

 

 

 

 

816,431

 

 

 

 

 

 

 

1,160,084

 

Used in dilutive EPS

 

$

39,135

 

 

 

20,393,424

 

 

$

36,105

 

 

 

17,967,653

 

 

$

25,528

 

 

 

15,238,365

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

1.96

 

 

 

 

 

 

$

2.11

 

 

 

 

 

 

$

1.81

 

 

 

 

 

Diluted earnings per common share

 

 

1.92

 

 

 

 

 

 

 

2.01

 

 

 

 

 

 

 

1.68