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Earnings Per Common Share | 6 Months Ended
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Jun. 30, 2022
Earnings Per Common Share |
Earnings Per Common 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 DSUs 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, stock units were vested, and ESPP shares were issued. ​ 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,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
Net income | ​ | $ | 29,824 | ​ | $ | 29,766 | ​ | $ | 58,263 | ​ | $ | 67,582
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average number of common shares outstanding, basic | ​ |  | 55,421,887 | ​ |  | 55,050,071 | ​ |  | 55,424,776 | ​ |  | 54,762,563
Dilutive effect of common stock equivalents: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Options | ​ | ​ | — | ​ | ​ | 2,806 | ​ | ​ | 2,284 | ​ | ​ | 1,453
Warrants | ​ | ​ | 1,686 | ​ | ​ | 1,789 | ​ | ​ | 1,770 | ​ | ​ | 1,746
RSU awards | ​ | ​ | 655,368 | ​ | ​ | 667,181 | ​ | ​ | 679,471 | ​ | ​ | 614,660
PSU awards | ​ | ​ | 14,534 | ​ | ​ | 2,888 | ​ | ​ | 15,456 | ​ | ​ | 1,444
DSU awards | ​ | ​ | 3,039 | ​ | ​ | 6,148 | ​ | ​ | 16,206 | ​ | ​ | 3,076
ESPP | ​ | ​ | 7,503 | ​ | ​ | — | ​ | ​ | 9,503 | ​ | ​ | —
Weighted average number of common shares outstanding, diluted | ​ | ​ | 56,104,017 | ​ | ​ | 55,730,883 | ​ | ​ | 56,149,466 | ​ | ​ | 55,384,942
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per common share | ​ | $ | 0.54 | ​ | $ | 0.54 | ​ | $ | 1.05 | ​ | $ | 1.23
Diluted earnings per common share | ​ | $ | 0.53 | ​ | $ | 0.53 | ​ | $ | 1.04 | ​ | $ | 1.22
​ Average 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,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
Anti-dilutive common stock equivalents | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Options | ​ | ​ | 31,166 | ​ | ​ | — | ​ | ​ | 15,583 | ​ | ​ | —
RSU awards | ​ | ​ | 155,649 | ​ | ​ | — | ​ | ​ | 77,824 | ​ | ​ | 106,213
PSU awards | ​ | ​ | 278,472 | ​ | ​ | 86,080 | ​ | ​ | 259,962 | ​ | ​ | 100,482
DSU awards | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 15,485
Total anti-dilutive common stock equivalents | ​ | ​ | 465,287 | ​ | ​ | 86,080 | ​ | ​ | 353,369 | ​ | ​ | 222,180
​

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