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EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2020

EARNINGS PER SHARE

Schedule of computation of basic and diluted earnings (loss) per share


		Three Months Ended						Nine Months Ended
		September 30						September 30
		2020			2019			2020			2019

		(in thousands, except share and per share data)
Basic
Numerator:
Net income		$	29,404		$	16,270		$	47,186		$	45,534
Effect of unvested restricted stock awards			(4)			(2)			(22)			(28)
Adjusted net income		$	29,400		$	16,268		$	47,164		$	45,506
Denominator:
Weighted-average shares			25,470,094			25,527,982			25,403,786			25,550,365
Earnings per common share		$	1.15		$	0.64		$	1.86		$	1.78

Diluted
Numerator:
Net income		$	29,404		$	16,270		$	47,186		$	45,534
Effect of unvested restricted stock awards			(4)			(2)			(22)			(28)
Adjusted net income		$	29,400		$	16,268		$	47,164		$	45,506
Denominator:
Weighted-average shares			25,470,094			25,527,982			25,403,786			25,550,365
Effect of dilutive securities			1,122,363			888,613			886,160			911,303
Adjusted weighted-average shares and assumed conversions			26,592,457			26,416,595			26,289,946			26,461,668
Earnings per common share		$	1.11		$	0.62		$	1.79		$	1.72