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Earnings Per Common Share | 12 Months Ended
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Mar. 27, 2021
Earnings Per Common Share [Abstract] |
Earnings Per Common Share | Note 12 – Earnings per Common Share
Earnings per Common Share |  |  |  |  |  |  |  |  |
(thousands, except per share data) |  |  | 2021 |  |  | 2020 |  |  | 2019
Numerator for earnings per common share calculation: |  |  |  |  |  |  |  |  |
Net income |  | $ | 34,319 |  | $ | 58,024 |  | $ | 79,752
Less: Preferred stock dividends |  |  | (438) |  |  | (449) |  |  | (408)
Income available to common stockholders |  | $ | 33,881 |  | $ | 57,575 |  | $ | 79,344
Denominator for earnings per common share calculation: |  |  |  |  |  |  |  |  |
Weighted average common shares - basic |  |  | 33,329 |  |  | 33,246 |  |  | 32,980
Effect of dilutive securities: |  |  |  |  |  |  |  |  |
Preferred stock |  |  | 503 |  |  | 510 |  |  | 510
Stock options |  |  | 26 |  |  | 167 |  |  | 154
Restricted stock |  |  | 18 |  |  | 30 |  |  | 31
Weighted average common shares - diluted |  |  | 33,876 |  |  | 33,953 |  |  | 33,675
Basic earnings per common share |  | $ | 1.02 |  | $ | 1.73 |  | $ | 2.41
Diluted earnings per common share |  | $ | 1.01 |  | $ | 1.71 |  | $ | 2.37
The computation of diluted earnings per common share for 2021, 2020 and 2019 excludes the effect of assumed exercise of approximately 456,000, 177,000 and 146,000 of stock options, respectively, as the exercise price of these options was greater than the average market value of our common stock for those periods, resulting in an anti-dilutive effect on diluted earnings per common share.

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