Earnings Per Share

6 Months Ended

Jun. 30, 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 June 30,				Six months ended June 30,
(in thousands, except per share data)	2022		2021		2022		2021
Net income available to common shareholders	$	44,211	$	38,405	$	90,675	$	68,331








Weighted average common shares outstanding	37,243		31,265		37,514		31,256

Additional dilutive common stock equivalents	39		47		58		49
Weighted average diluted common shares outstanding	37,282		31,312		37,572		31,305

Basic earnings per common share:	$	1.19	$	1.23	$	2.42	$	2.19
Diluted earnings per common share:	1.19		1.23		$	2.41	$	2.18

For the three and six months ended June 30, 2022 common stock equivalents of approximately 363,000 and 319,000, respectively, were excluded from the earnings per share calculations because their effect would have been anti-dilutive. Comparatively, there were 154,000 and 133,000 common stock equivalents excluded in the prior year periods, respectively.