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Earnings per Share | 9 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
Earnings per Share | Note 18—Earnings per Share A reconciliation of the numerators and denominators for earnings per common share computations is presented below. Incremental shares represent outstanding stock options for which the exercise price is less than the average market price of the Company’s common stock during the periods presented. Options to purchase 1,531,404 and 1,676,371 shares of common stock were outstanding as of September 30, 2021 and 2020, respectively. There were 579,064 and 392,439 restricted stock awards outstanding at September 30, 2021 and 2020, respectively. For the three and nine months ended September 30, 2021, no stock options outstanding were excluded from the calculation of diluted earnings per common share. For the three and nine months ended September 30, 2020, 105,657 and 50,000 stock options outstanding were excluded from the calculation of diluted earnings per common share, as their effect would have been anti-dilutive. The following represent the calculation of basic and diluted earnings per share for the periods presented:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Net income |  | $ | 25,306 |  |  | $ | 13,071 |  |  | $ | 75,596 |  |  | $ | 25,176 |
Less: Dividends on preferred shares |  |  | 196 |  |  |  | 196 |  |  |  | 587 |  |  |  | 587 |
Net income available to common stockholders |  | $ | 25,110 |  |  | $ | 12,875 |  |  | $ | 75,009 |  |  | $ | 24,589 |
Weighted-average common stock outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common stock outstanding (basic) |  |  | 37,200,778 |  |  |  | 38,057,350 |  |  |  | 37,773,350 |  |  |  | 37,973,694 |
Incremental shares |  |  | 817,523 |  |  |  | 191,985 |  |  |  | 749,762 |  |  |  | 278,269 |
Weighted-average common stock outstanding (dilutive) |  |  | 38,018,301 |  |  |  | 38,249,335 |  |  |  | 38,523,112 |  |  |  | 38,251,963 |
Basic earnings per common share |  | $ | 0.68 |  |  | $ | 0.34 |  |  | $ | 1.99 |  |  | $ | 0.65 |
Diluted earnings per common share |  | $ | 0.66 |  |  | $ | 0.34 |  |  | $ | 1.95 |  |  | $ | 0.64 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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