Earnings Per Share

6 Months Ended

Jun. 30, 2020

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data).


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net income	$	25,096	$	44,085	$	56,980	$	88,347
Dividends and undistributed earnings allocated to unvested shares	(183)		(316)		(426)		(631)
Net income available to common shareholders	$	24,913	$	43,769	$	56,554	$	87,716

Weighted average shares outstanding:
Basic	78,920		79,673		79,130		79,739
Effect of dilutive securities
Stock options	—		1		—		2
Restricted stock units	4		4		56		4
Diluted	78,924		79,678		79,186		79,745

Net income per common share:
Basic	$	0.32	$	0.55	$	0.71	$	1.10
Diluted	$	0.32	$	0.55	$	0.71	$	1.10

At June 30, 2020, United had potentially dilutive instruments outstanding in the form of 154,795 shares of common stock issuable upon vesting of restricted stock unit awards.

At June 30, 2019, United excluded 1,000 potentially dilutive shares of common stock issuable upon exercise of stock options with a weighted average exercise price of $30.45 from the computation of diluted earnings per share because of their antidilutive effect.