Earnings per Share

3 Months Ended

Mar. 31, 2021

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, 2021, no options to purchase shares of the Company's common stock were anti-dilutive, compared to 489,000 shares that were excluded in the computation of diluted earnings per share for the three months ended March 31, 2020.

	Three Months Ended March 31,
(Dollars in thousands, except per share data)	2021		2020
Basic earnings per share
Net income	$	33,719	$	709
Average common shares outstanding	55,271		51,803
Net income per share	$	0.61	$	0.01
Diluted earnings per share
Net income	$	33,719	$	709
Average common shares outstanding	55,271		51,803
Add: Dilutive effect of employee restricted stock and stock options	721		481
Average diluted shares outstanding	55,992		52,284
Net income per share	$	0.60	$	0.01