XML 32 R21.htm IDEA: XBRL DOCUMENT v3.21.2
Earnings Per Share
 6 Months Ended
Jun. 30, 2021
Earnings Per Share  
Earnings Per Share

Note 12: Earnings Per Common Share

​

Basic earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding, which include deferred stock units that are vested but not delivered. Diluted earnings per common share is computed using the treasury stock method and reflects the potential dilution that could occur if the Company’s outstanding stock options and warrants were exercised and restricted stock units were vested.

​

Earnings per common share have been computed as follows (dollars in thousands, except per share amounts):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30, 

​

Six Months Ended June 30, 

​

    

2021

    

2020

    

2021

    

2020

Net income

​

$

29,766

​

$

25,806

​

$

67,582

​

$

41,170

Shares:

​

​

​

​

​

​

​

​

​

​

​

​

Weighted average common shares outstanding

​

 

55,050,071

​

 

54,489,403

​

 

54,762,563

​

 

54,575,595

Dilutive effect of outstanding options, warrants, and restricted stock units as determined by the application of the treasury stock method

​

 

680,812

​

 

215,870

​

 

622,379

​

 

231,575

Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation

​

 

55,730,883

​

 

54,705,273

​

 

55,384,942

​

 

54,807,170

​

​

​

​

​

​

​

​

​

​

​

​

​

Basic earnings per common share

​

$

0.54

​

$

0.47

​

$

1.23

​

$

0.75

​

​

​

​

​

​

​

​

​

​

​

​

​

Diluted earnings per common share

​

$

0.53

​

$

0.47

​

$

1.22

​

$

0.75

​

Shares that were excluded from the computation of diluted earnings per common share because their effect would have been anti-dilutive are summarized in the table below for the periods presented:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30, 

​

Six Months Ended June 30, 

​

    

2021

    

2020

    

2021

    

2020

Anti-dilutive common stock equivalents

​

​

​

​

​

​

​

​

​

​

​

​

Options

​

​

—

​

​

39,525

​

​

—

​

​

39,525

RSU and DSU awards

​

​

—

​

​

367,468

​

​

121,698

​

​

367,121

PSU awards

​

​

86,080

​

​

—

​

​

100,482

​

​

—

Total anti-dilutive common stock equivalents

​

​

86,080

​

​

406,993

​

​

222,180

​

​

406,646

​