Earnings (Loss) per Share

9 Months Ended

Sep. 30, 2021

The following reconciles shares outstanding for basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2021 and 2020 (in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2020	2021	2020
Weighted average shares outstanding	59,722	60,363	60,050	60,349
Less: Unallocated ESOP shares	(353)	(418)	(369)	(435)
Unallocated incentive award shares	(58)	(10)	(62)	(13)
Average basic shares outstanding	59,311	59,935	59,619	59,901
Add: Effect of dilutive securities:
Incentive awards	204	—	243	175

Average diluted shares outstanding	59,515	59,935	59,862	60,076

For the three and nine months ended September 30, 2021, antidilutive stock options of 1,573,000 and 1,566,000, respectively, were excluded from the earnings (loss) per share calculations. For the three and nine months ended September 30, 2020, antidilutive stock options of 2,251,000 and 2,067,000, respectively, were excluded from the earnings (loss) per share calculations. For the three months ended September 30, 2020, 87,000 shares related to incentive awards were excluded from the diluted earnings (loss) per share calculation as they were antidilutive.