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Earnings Per Common Share
 9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Earnings Per Common Share EARNINGS PER COMMON SHARE
Basic earnings per common share is computed by dividing net income, excluding net earnings allocated to participating securities, by the weighted average number of shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per common share is computed using the weighted average number of shares determined for the basic computation plus the dilutive effect of potential common shares issuable under certain stock compensation plans. For the three and nine months ended September 30, 2021 and 2020, there were no outstanding stock options to include in the diluted earnings per common share calculations and the impact of performance-based shares was immaterial.

Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per common share pursuant to the two-class method. The Corporation has determined that its outstanding unvested stock awards are participating securities.
The computation of basic and diluted earnings per common share is shown below:
Three months ended September 30,Nine months ended September 30,
 2021202020212020
Basic earnings per common share computation:
Net income per consolidated statements of income$13,831 $7,785 $39,852 $24,844 
Net earnings allocated to participating securities(47)(24)(139)(82)
Net earnings allocated to common stock$13,784 $7,761 $39,713 $24,762 
Distributed earnings allocated to common stock$2,859 $2,863 $8,577 $8,079 
Undistributed earnings allocated to common stock10,925 4,898 31,136 16,683 
Net earnings allocated to common stock$13,784 $7,761 $39,713 $24,762 
Weighted average common shares outstanding, including shares considered participating securities16,887 16,616 16,875 15,785 
Less: Average participating securities(54)(47)(56)(50)
Weighted average shares16,833 16,569 16,819 15,735 
Basic earnings per common share$0.82 $0.47 $2.36 $1.57 
Diluted earnings per common share computation:
Net earnings allocated to common stock$13,784 $7,761 $39,713 $24,762 
Weighted average common shares outstanding for basic earnings per common share16,833 16,569 16,819 15,735 
Add: Dilutive effects of performance based-shares0 0 0 0 
Weighted average shares and dilutive potential common shares16,833 16,569 16,819 15,735 
Diluted earnings per common share$0.82 $0.47 $2.36 $1.57