Earnings per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings per Share

Earnings per Share

Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding during the period.

For the three months ended March 31, 2020, options to purchase 489,000 shares were antidilutive and, accordingly, were excluded in the computation of diluted earnings per share, compared to 487,000 shares for the three months ended March 31, 2019.

	Three Months Ended March 31,
(Dollars in thousands, except per share data)	2020		2019
Basic earnings per share
Net income	$	709	$	22,705
Average common shares outstanding	51,803		51,359
Net income per share	$	0.01	$	0.44
Diluted earnings per share
Net income	$	709	$	22,705
Average common shares outstanding	51,803		51,359
Add: Dilutive effect of employee restricted stock and stock options	481		680
Average diluted shares outstanding	52,284		52,039
Net income per share	$	0.01	$	0.44