Earnings Per Share

6 Months Ended

Jun. 30, 2022

EARNINGS PER SHARE

The computations of basic and diluted earnings per share follow:


	For the Three Months Ended June 30,
	2022					2021
Dollars in thousands,except per share amounts	Net Income (Numerator)		Common Shares (Denominator)	Per Share		Net Income (Numerator)		Common Shares (Denominator)	Per Share
Net income	$	12,014				$	10,560
Less preferred stock dividends	(225)					(139)

Basic earnings per share	$	11,789	12,754,724	$	0.92	$	10,421	12,952,357	$	0.80

Effect of dilutive securities:
Stock options			—					4,534
Stock appreciation rights ("SARs")			51,205					51,244
Restricted stock units ("RSUs")			4,245					5,579



Diluted earnings per share	$	11,789	12,810,174	$	0.92	$	10,421	13,013,714	$	0.80


	For the Six Months Ended June 30,
	2022					2021
Dollars in thousands,except per share amounts	Net Income (Numerator)		Common Shares (Denominator)	Per Share		Net Income (Numerator)		Common Shares (Denominator)	Per Share
Net income	$	23,707				$	20,919
Less preferred stock dividends	(450)					(139)

Basic earnings per share	$	23,257	12,750,037	$	1.82	$	20,780	12,947,228	$	1.61

Effect of dilutive securities:
Stock options			—					4,522
Stock appreciation rights ("SARs")			51,192					50,513
Restricted stock units ("RSUs")			4,643					5,626



Diluted earnings per share	$	23,257	12,805,872	$	1.82	$	20,780	13,007,889	$	1.60

Stock option and SAR grants are disregarded in this computation if they are determined to be anti-dilutive. All stock options were dilutive for the three and six months ended June 30, 2021. Our anti-dilutive SARs were 237,101 for the three and six months ended June 30, 2022 and totaled 222,740 for the three and six months ended June 30, 2021. All RSUs were dilutive for all periods presented.