Year Ended December 31,

2021

2020

2019

(dollars in thousands)

Numerator:

Net income

$

56,271

$

36,845

$

66,865

Earnings allocated to participating securities

(104)

(93)

—

Numerator for earnings per share - basic and diluted

$

56,167

$

36,752

$

66,865

Denominator:

Weighted average common shares outstanding

27,795,806

27,457,306

20,090,270

Dilutive effect of outstanding restricted stock units

15,487

—

Weighted average common shares outstanding, including all dilutive potential shares

27,811,293

27,457,306

20,090,270

Earnings per share - Basic

$

2.02

$

1.34

$

3.33

Earnings per share - Diluted

$

2.02

$

1.34

$

3.33