Earnings per Common Share

6 Months Ended

Jun. 30, 2019

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 June 30,				Six Months Ended June 30,
(dollars in thousands except share and per share data)	2019		2018		2019		2018
Numerator:
Net income available to common shareholders	$	15,785	$	14,688	$	26,462	$	29,974
Denominator for basic earnings per share – weighted average shares outstanding	20,144,651		20,238,852		20,156,509		20,221,010
Effect of dilutive common shares	99,758		174,726		99,960		206,782
Denominator for diluted earnings per share – adjusted weighted average shares outstanding	20,244,409		20,413,578		20,256,469		20,427,792
Basic earnings per share	$	0.78	$	0.73	$	1.31	$	1.48
Diluted earnings per share	0.78		0.72		1.31		1.47
Antidilutive shares excluded from computation of average dilutive earnings per share	14,441		1,422		30,506		2,495