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Earnings per Share (Tables)
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Schedule of Calculation of Basic and Diluted Earnings per Share

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