Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Reconciliation of Earnings Per Share

The Company computes earnings per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share (“ASC 260”). A reconciliation of the component parts of earnings per share for the three and nine months ended September 30, 2021 and 2020 is as follows:

(in thousands, except per share data)	For the three months ended September 30,				For the nine months ended September 30,
	2021		2020		2021		2020
Net income	$	16,762		14,071	$	45,278		38,638
Weighted average common shares (1)		19,249		19,287		19,272		19,306
Stock Options (1)		3		1		6		2
Weighted average common shares including potential dilutive shares (1)		19,252		19,288		19,278		19,308
Basic EPS (1)	$	0.871		0.730	$	2.349		2.002
Diluted EPS (1)	$	0.871		0.730	$	2.349		2.001

(1) Share and per share amounts have been adjusted for all periods presented for the 1 for 5 reverse stock split which occurred on May 28, 2021.