Earnings Per Share

12 Months Ended

Dec. 31, 2021

EARNINGS PER SHARE

The computations of basic and diluted earnings per share follow:


	For the Year Ended December 31,
	2021					2020					2019
			Common					Common					Common
Dollars in thousands,	Income		Shares	Per		Income		Shares	Per		Income		Shares	Per
except per share amounts	(Numerator)		(Denominator)	Share		(Numerator)		(Denominator)	Share		(Numerator)		(Denominator)	Share
Net income	$	45,738				$	31,326				$	31,866
Less preferred stock dividends	(589)					—					—
Basic EPS	$	45,149	12,943,883	$	3.49	$	31,326	12,935,430	$	2.42	$	31,866	12,516,474	$	2.55
Effect of dilutive securities:
Stock options			44					4,320					4,935
SARs			53,964					34,785					53,737
RSUs			5,537					850					—

Diluted EPS	$	45,149	13,003,428	$	3.47	$	31,326	12,975,385	$	2.41	$	31,866	12,575,146	$	2.53

Stock option and SAR grants are disregarded in this computation if they are determined to be anti-dilutive. At December 31, 2021, anti-dilutive SARs totaled 400,229. At December 31, 2020, our anti-dilutive options were 200 and our anti-dilutive SARs totaled 222,740. All outstanding stock options were dilutive and our anti-dilutive SARs totaled 222,740 at December 31, 2019.