Earnings Per Common Share

12 Months Ended

Dec. 31, 2020

Earnings per Common Share

The calculation of basic earnings per share and diluted earnings per share is presented below:


	Year Ended December 31,
(dollars in thousands, except share and per share data)	2020		2019		2018
Numerator:
Net income available to common shareholders	$	32,573	$	59,206	$	63,792
Denominator for basic earnings per share – Weighted average shares outstanding(1)	19,970,921		20,142,306		20,234,792
Effect of dilutive potential common shares	71,424		91,065		155,375
Denominator for diluted earnings per share – Adjusted weighted average shares outstanding	20,042,345		20,233,371		20,390,167
Basic earnings per share	$	1.63	$	2.94	$	3.15
Diluted earnings per share	1.63		2.93		3.13
Antidilutive shares excluded from computation of average dilutive earnings per share	34,792		3,671		19,422

(1) Excludes restricted stock.

All weighted average shares, actual shares and per share information in the financial statements have been adjusted retroactively for the effect of stock dividends and splits. See Section T, “Earnings per Common Share” of Note 1, “Summary of Significant Accounting Policies,” in the accompanying Notes to the Consolidated Financial Statements in this Annual Report on Form 10-K for a discussion on the calculation of earnings per share.