Three Months Ended September 30,

Nine Months Ended September 30,

2021

2020

2021

2020

(dollars in thousands)

Numerator:

Net income

$

13,715

$

10,563

$

42,677

$

24,203

Earnings allocated to participating securities

(25)

(28)

(81)

(62)

Numerator for earnings per share - basic and diluted

$

13,690

$

10,535

$

42,596

$

24,141

Denominator:

Weighted average common shares outstanding

27,340,926

27,457,306

27,377,809

27,457,306

Dilutive effect of outstanding restricted stock units

13,921

—

11,412

—

Weighted average common shares outstanding, including all dilutive potential shares

27,354,847

27,457,306

27,389,221

27,457,306

Earnings per share - Basic

$

0.50

$

0.38

$

1.56

$

0.88

Earnings per share - Diluted

$

0.50

$

0.38

$

1.56

$

0.88