EARNINGS APPLICABLE TO COMMON SHAREHOLDERS

6 Months Ended

Jun. 30, 2021

EARNINGS APPLICABLE TO COMMON SHAREHOLDERS

EARNINGS APPLICABLE TO COMMON SHAREHOLDERS

NOTE 5 – EARNINGS APPLICABLE TO COMMON SHAREHOLDERS

Basic per share data is calculated based on the weighted-average number of common shares outstanding during the reporting period. Diluted per share data includes any dilution from potential common stock outstanding, such as restricted stock grants. There were no anti-dilutive common stock equivalents excluded in the calculations.

The following tables disclose the reconciliation of the numerators and denominators of the basic and diluted computations applicable to common shareholders ($ in thousands, except per share amount):

	For the Three Months Ended					For the Three Months Ended
	June 30, 2021					June 30, 2020
	Net Income		Shares	Per		Net Income		Shares	Per
	(Numerator)		(Denominator)	Share Data		(Numerator)		(Denominator)	Share Data
Basic earnings per share	$	15,600	21,018,772	$	0.74	$	16,943	21,341,913	$	0.79
Effect of dilutive shares:
Restricted stock grants			188,288					95,267
Diluted earnings per share	$	15,600	21,207,060	$	0.74	$	16,943	21,437,180	$	0.79

	For the Six Months Ended					For the Six Months Ended
	June 30, 2021					June 30, 2020
	Net Income		Shares	Per		Net Income		Shares	Per
	(Numerator)		(Denominator)	Share Data		(Numerator)		(Denominator)	Share Data
Basic earnings per share	$	32,244	21,013,930	$	1.53	$	25,254	20,080,014	$	1.26
Effect of dilutive shares:
Restricted stock grants			182,147					125,453
Diluted earnings per share	$	32,244	21,196,077	$	1.52	$	25,254	20,205,467	$	1.25

The Company granted 84,578 shares and 60,680 shares of restricted stock in the first quarter of 2021 and 2020, respectively. The Company granted 3,000 shares and 3,750 shares of restricted stock in the second quarter of 2021 and 2020, respectively.