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Earnings Per Common Share | 12 Months Ended
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Mar. 26, 2022
Earnings Per Common Share [Abstract] |
Earnings Per Common Share | Note 12 – Earnings per Common Share
Earnings per Common Share |  |  |  |  |  |  |  |  |
(thousands, except per share data) |  |  | 2022 |  |  | 2021 |  |  | 2020
Numerator for earnings per common share calculation: |  |  |  |  |  |  |  |  |
Net income |  | $ | 61,568 |  | $ | 34,319 |  | $ | 58,024
Less: Preferred stock dividends |  |  | (469) |  |  | (438) |  |  | (449)
Income available to common stockholders |  | $ | 61,099 |  | $ | 33,881 |  | $ | 57,575
Denominator for earnings per common share calculation: |  |  |  |  |  |  |  |  |
Weighted average common shares - basic |  |  | 33,527 |  |  | 33,329 |  |  | 33,246
Effect of dilutive securities: |  |  |  |  |  |  |  |  |
Preferred stock |  |  | 460 |  |  | 503 |  |  | 510
Stock options |  |  | 12 |  |  | 26 |  |  | 167
Restricted stock |  |  | 39 |  |  | 18 |  |  | 30
Weighted average common shares - diluted |  |  | 34,038 |  |  | 33,876 |  |  | 33,953
Basic earnings per common share |  | $ | 1.82 |  | $ | 1.02 |  | $ | 1.73
Diluted earnings per common share |  | $ | 1.81 |  | $ | 1.01 |  | $ | 1.71
The computation of diluted earnings per common share for 2022, 2021, and 2020 excludes the effect of the assumed exercise of approximately 460,000, 456,000, and 177,000 of stock options, respectively, as the exercise price of these options was greater than the av erage 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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