Earnings per Common Share

Basic earnings per common share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average common shares outstanding during the period. Diluted earnings per common share takes into account the potential dilution that would occur if in-the-money stock options were exercised and converted into common shares and RSUs and PSUs were vested. Proceeds assumed to have been received on option exercises are assumed to be used to purchase shares of BMBC’s common stock at the average market price during the period, as required by the treasury stock method of accounting. The effects of stock options are excluded from the computation of diluted earnings per share in periods in which the effect would be antidilutive.



	Three Months Ended March 31,
(dollars in thousands except share and per share data)	2019		2018
Numerator:
Net income available to common shareholders	$	10,677	$	15,286
Denominator for basic earnings per share – weighted average shares outstanding	20,168,498		20,202,969
Effect of dilutive common shares	103,163		247,525
Denominator for diluted earnings per share – adjusted weighted average shares outstanding	20,271,661		20,450,494
Basic earnings per share	$	0.53	$	0.76
Diluted earnings per share	$	0.53	$	0.75
Antidilutive shares excluded from computation of average dilutive earnings per share	63,765		870