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Earnings Per Share | 9 Months Ended
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Sep. 30, 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 and nine months ending September 30, 2020 and 2019 are presented below:
|  | Three months ended |  | Nine months ended
|  | September 30, |  | September 30,
(dollars and shares in thousands, except per share data) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Net income |  | $ | 17,659 |  | $ | 7,104 |  | $ | 34,496 |  | $ | 21,888
Dividends and undistributed earnings allocated to participating securities |  |  | 315 |  |  | 154 |  |  | 600 |  |  | 514
Net income available to common shareholders |  | $ | 17,344 |  | $ | 6,950 |  | $ | 33,896 |  | $ | 21,374
Weighted-average common shares outstanding for basic earnings per share |  |  | 17,121 |  |  | 14,274 |  |  | 17,101 |  |  | 13,957
Dilutive effect of stock-based awards |  |  | 332 |  |  | 352 |  |  | 334 |  |  | 360
Weighted-average common shares outstanding for diluted earnings per share |  |  | 17,453 |  |  | 14,626 |  |  | 17,435 |  |  | 14,317
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic earnings per common share |  | $ | 1.01 |  | $ | 0.49 |  | $ | 1.98 |  | $ | 1.53
Diluted earnings per common share |  | $ | 0.99 |  | $ | 0.48 |  | $ | 1.94 |  | $ | 1.49

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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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