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EARNINGS PER SHARE (Tables)
12 Months Ended
Dec. 31, 2019
EARNINGS PER SHARE  
Schedule of computation of basic and diluted earnings (loss) per share

The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31:

 

2019

    

2018

    

2017

 

(in thousands, except share and per share data)

 

Basic

Numerator:

Net income

$

39,985

$

67,262

$

59,726

Effect of unvested restricted stock awards

 

(22)

 

(150)

 

(238)

Adjusted net income

$

39,963

$

67,112

$

59,488

Denominator:

Weighted-average shares

 

25,535,529

 

25,679,736

 

25,683,745

Earnings per common share

$

1.56

$

2.61

$

2.32

Diluted

Numerator:

Net income

$

39,985

$

67,262

$

59,726

Effect of unvested restricted stock awards

 

(21)

 

(145)

 

(233)

Adjusted net income

$

39,964

$

67,117

$

59,493

Denominator:

Weighted-average shares

 

25,535,529

 

25,679,736

 

25,683,745

Effect of dilutive securities

 

914,526

 

1,019,095

 

740,644

Adjusted weighted-average shares and assumed conversions

 

26,450,055

 

26,698,831

 

26,424,389

Earnings per common share

$

1.51

$

2.51

$

2.25