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Earnings Per Share | 3 Months Ended
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Mar. 31, 2020
Earnings Per Share |
Earnings Per Share | NOTE 15 Earnings Per Share Beginning in the third quarter of 2019, the Company elected to prospectively use the two-class method in calculating earnings per share due to the restricted stock awards and restricted stock units qualifying as participating securities. Under the two-class method, earnings available to common shareholders for the period are allocated between common shareholders and participating securities according to dividends declared (or accumulated) and participating rights in undistributed earnings. Average shares of common stock for diluted net income per common share include shares to be issued upon the vesting of restricted stock awards and restricted stock units granted under the Company's share-based compensation plans. The calculation of basic and diluted earnings per share using the two-class method for the three months ending March 31, 2020 is presented below:
|  | Three months ended
|  | March 31,
(dollars and shares in thousands, except per share data) |  | 2020
Net income |  | $ | 5,363
Dividends and undistributed earnings allocated to participating securities |  |  | 82
Net income available to common shareholders |  | $ | 5,281
Weighted-average common shares outstanding for basic earnings per share |  |  | 17,070
Dilutive effect of stock-based awards |  |  | 335
Weighted-average common shares outstanding for diluted earnings per share |  |  | 17,405
Earnings per common share: |  |  |
Basic earnings per common share |  | $ | 0.31
Diluted earnings per common share |  | $ | 0.30
For the three months ended March 31, 2019, the basic and diluted earnings per share were calculated using the treasury stock method, as presented in the table below. The Company determined that the impact to diluted earnings per share would be immaterial if calculated under the two-class method for the three months ended March 31, 2020. The calculation of basic and diluted earnings per share using the treasury stock method for the three months ending March 31, 2019 is presented below:
|  | Three months ended
|  | March 31,
(dollars and shares in thousands, except per share data) |  | 2019
Basic: |  |  |
Net income attributable to common shareholders |  | $ | 6,436
Weighted-average common shares outstanding |  |  | 13,781
Basic earnings per common share |  | $ | 0.47
Diluted: |  |  |
Net income attributable to common shareholders |  | $ | 6,436
Weighted-average common shares outstanding |  |  | 13,781
Add: Dilutive effect of stock-based awards |  |  | 297
Weighted-average common shares outstanding for diluted EPS |  |  | 14,078
Diluted earnings per common share |  | $ | 0.46

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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