Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Reconciles Numerators and Denominators of Basic Earnings Per Share and Diluted Earnings Per Share

The following table reconciles the numerators and denominators of basic and diluted EPS:


	Years ended December 31,
(dollars in thousands, except share and per share data)	2020		2019		2018
Numerator for Earnings per Common Share—Basic:
Net income	$	21,040	$	98,234	$	105,334

Less: Income allocated to participating shares	68		260		304
Net Income Allocated to Common Shareholders	$	20,972	$	97,974	$	105,030
Numerator for Earnings per Common Share—Diluted:
Net income	$	21,040	$	98,234	$	105,334


Denominators:
Weighted Average Common Shares Outstanding—Basic	39,070,439		34,628,191		34,775,784
Add: Dilutive potential common shares	43,193		94,763		199,625
Denominator for Treasury Stock Method—Diluted	39,113,632		34,722,954		34,975,409
Weighted Average Common Shares Outstanding—Basic	39,070,439		34,628,191		34,775,784
Add: Average participating shares outstanding	2,780		51,287		100,733
Denominator for Two-Class Method—Diluted	39,073,219		34,679,478		34,876,517
Earnings per common share—basic	$	0.54	$	2.84	$	3.03
Earnings per common share—diluted	$	0.53	$	2.82	$	3.01
Warrants considered anti-dilutive excluded from dilutive potential common shares - exercise price $31.53 per share, expires January 2019(1)	—		—		267,106

Restricted stock considered anti-dilutive excluded from dilutive potential common shares	1,242		12,686		81,587

(1)We repurchased our outstanding warrant on September 11, 2018 for $7.7 million. Prior to the repurchase, the warrant provided the holder the right to 517,012 shares of common stock at a strike price of $31.53 per share via cashless exercise.