Earnings Per Share

9 Months Ended

Sep. 30, 2020

EARNINGS PER SHARE

The factors used in the earnings per share computation follow:


	Three Months Ended September 30,						Nine Months Ended September 30,
(Dollars in thousands)	2020		2019		2020		2019
Basic
Net income to common stockholders	$	22,005	$	14,317	$	30,995	$	41,835
Weighted average common shares outstanding	24,592,092		25,621,054		24,298,897		26,228,499
Basic earnings per common share	$	0.89	$	0.56	$	1.28	$	1.60
Diluted
Net income to common stockholders	$	22,005	$	14,317	$	30,995	$	41,835
Weighted average common shares outstanding	24,592,092		25,621,054		24,298,897		26,228,499
Dilutive effects of:
Assumed exercises of stock options	48,102		60,068		53,232		61,054
Restricted stock awards	67,907		45,631		65,893		40,572
Restricted stock units	18,192		3,045		15,198		57
Performance stock units - market based	76,095		4,673		30,995		1,558
Performance stock units - performance based	—		—		—		—
Average shares and dilutive potential common shares	24,802,388		25,734,471		24,464,215		26,331,740
Diluted earnings per common share	$	0.89	$	0.56	$	1.27	$	1.59

Shares that were not considered in computing diluted earnings per common share because they were antidilutive are as follows:


	Three Months Ended September 30,			Nine Months Ended September 30,
	2020	2019	2020	2019
Stock options	98,513	67,023	98,513	67,023
Restricted stock awards	—	3,209	—	3,209
Restricted stock units	—	—	—	54,077
Performance stock units - market based	—	55,228	—	55,228
Performance stock units - performance based	261,125	—	261,125	—