Earnings Per Share

6 Months Ended

Jun. 30, 2022

Note 2 - Earnings Per Share

Basic and diluted earnings per common share are calculated using the treasury method. Under the treasury method, basic earnings per share is calculated as net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the dilutive effect of additional potential common shares issuable under the Company's stock and incentive compensation plans. Information regarding the Company's basic and diluted earnings per common share is presented in the following table:


(Dollars in thousands, except per share amounts)	Three Months Ended June 30,				Six Months Ended June 30,
Numerator:	2022		2021		2022		2021
Net income	$	21,311	$	27,733	$	41,994	$	53,246



Denominator:





Weighted average common shares outstanding	23,740,611		23,410,693		23,720,874		23,402,073
Dilutive effect of stock-based awards	47,553		193,873		60,065		195,218
Weighted average diluted common shares outstanding	23,788,164		23,604,566		23,780,939		23,597,291

Basic earnings per common share	$	0.90	$	1.18	$	1.77	$	2.28
Diluted earnings per common share	0.90		1.17		1.77		2.26