Earnings Per Share

3 Months Ended

Mar. 31, 2022

EARNINGS PER SHAREBasic earnings per common share data is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method.

The following table presents a summary of per common share data and amounts for the periods indicated.


	Three months ended March 31,
(in thousands, except per share data)	2022		2021
Net income available to common shareholders	$	46,464	$	29,926








Weighted average common shares outstanding	37,788		31,247

Additional dilutive common stock equivalents	70		59
Weighted average diluted common shares outstanding	37,858		31,306

Basic earnings per common share:	$	1.23	$	0.96
Diluted earnings per common share:	1.23		0.96

For the three months ended March 31, 2022 common stock equivalents of approximately 276,000 were excluded from the earnings per share calculations because their effect would have been anti-dilutive. Comparatively, there were 222,000 common stock equivalents excluded in the prior year period.