Earnings Per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share

Earnings Per Share

NOTE 15 Earnings Per Share

The calculation of basic and diluted earnings per share using the two-class method for the three months ending March 31, 2022 and 2021 are presented below:

	Three months ended
	March 31,
(dollars and shares in thousands, except per share data)	2022		2021
Net income	$	10,184	$	15,215
Dividends and undistributed earnings allocated to participating securities		125		254
Net income available to common shareholders	$	10,059	$	14,961
Weighted-average common shares outstanding for basic earnings per share		17,244		17,145
Dilutive effect of stock-based awards		256		320
Weighted-average common shares outstanding for diluted earnings per share		17,500		17,465
Earnings per common share:
Basic earnings per common share	$	0.58	$	0.87
Diluted earnings per common share	$	0.57	$	0.86