EARNINGS PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2020

EARNINGS PER COMMON SHARE [Abstract]

Components of Calculation of Earnings Per Share

The components of the calculation of basic earnings per share and diluted earnings per share are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)		2020		2019		2020		2019
Net income/(loss)	$	64,358	$	(16,523)	$	97,377	$	(5,626)
Weighted average common shares outstanding:
Basic		28,469,969		29,220,345		28,812,299		29,200,897
Diluted		28,639,780		29,220,345		28,989,146		29,200,897

Reconciliations of the numerator of the basic and diluted earnings per share computations are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)		2020		2019		2020		2019
Net income/(loss) allocated to:
Common Stockholders	$	64,272	$	(16,523)	$	97,227	$	(5,626)
Participating securities		86		—		150		—
	$	64,358	$	(16,523)	$	97,377	$	(5,626)