v3.21.1

Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

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)

Schedule of Antidilutive Effect in the Calculation of Diluted Earnings Per Common Share

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.

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- References

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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