Earnings Per Common Share ("EPS")

9 Months Ended

Sep. 30, 2018

(3.)EARNINGS PER COMMON SHARE (“EPS”)

The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS (in thousands, except per share amounts).

	Three months ended September 30,						Nine months ended September 30,
	2018			2017			2018			2017
Net income available to common shareholders	$	10,212		$	7,913		$	30,939		$	21,371
Weighted average common shares outstanding:
Total shares issued		16,056			15,448			16,056			15,002
Unvested restricted stock awards		(4	)		(44	)		(9	)		(48	)
Treasury shares		(131	)		(136	)		(141	)		(148	)
Total basic weighted average common shares outstanding		15,921			15,268			15,906			14,806
Incremental shares from assumed:
Exercise of stock options		—			7			3			11
Vesting of restricted stock awards		43			27			42			30
Total diluted weighted average common shares outstanding		15,964			15,302			15,951			14,847
Basic earnings per common share	$	0.64		$	0.52		$	1.95		$	1.44
Diluted earnings per common share	$	0.64		$	0.52		$	1.94		$	1.44

For each of the periods presented, average shares subject to the following instruments were excluded from the computation of diluted EPS because the effect would be antidilutive:

Stock options	—	—	—	—
Restricted stock awards	7	—	6	2
Total	7	—	6	2