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Earnings per Common Share
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Earnings per Common Share

Note 2.  Earnings per Common Share

 

Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) No. 260-10-45 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting and, therefore, need to be included in the earnings allocation in computing earnings per share (“EPS”).  The restricted stock awards granted by the Company contain non-forfeitable rights to dividends and therefore are considered participating securities.  The two-class method for calculating basic EPS excludes dividends paid to participating securities and any undistributed earnings attributable to participating securities.

 

Earnings per common share have been computed based on the following:

 

   Three Months Ended
March 31,		 
(dollars in thousands, except for per share data)  2022   2021 
Net income available to common stockholders  $29,872   $32,999 
Earnings allocated to participating securities   (80)   (186)
Income attributable to common stock  $29,792   $32,813 
           
Weighted average common shares outstanding, including participating securities   39,560    39,738 
Weighted average participating securities   (107)   (181)
Weighted average common shares outstanding   39,453    39,557 
Incremental shares from assumed conversions of options, performance units and restricted shares   274    232 
Weighted average common and equivalent shares outstanding   39,727    39,789 
           
Earnings per common share:          
Basic  $0.76   $0.83 
Diluted   0.75    0.82 

 

There were no antidilutive share equivalents for the quarters ended March 31, 2022 and March 31, 2021.