The following table presents the computation of basic and diluted earnings per common share for the periods indicated:


	Three Months Ended March 31,
(dollars in thousands, except per share amounts)	2021		2020
Basic Earnings (Loss) Per Share:
Net income (loss)	$	21,648	$	(1,975)
Weighted average shares outstanding	15,990,724		16,141,500
Basic earnings (loss) per common share	$	1.35	$	(0.12)

Diluted Earnings (Loss) Per Share:
Net income (loss)	$	21,648	$	(1,975)
Weighted average shares outstanding, including all dilutive potential shares	16,020,920		16,141,500
Diluted earnings (loss) per common share	$	1.35	$	(0.12)

The weighted average shares that have an antidilutive effect in the calculation of diluted earnings per common share and have been excluded from the computation above were as follows:


	Three Months Ended March 31,
	2021	2020
Dilutive shares (1)	—	18,042
(1) Dilutive potential shares that were excluded from the computation of diluted earnings per common share for the three months ended March 31, 2020 as a result of the reported net loss available to common shareholders.