Earnings Per Common Share

12 Months Ended

Dec. 31, 2019

(18.)

EARNINGS PER COMMON SHARE

The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS for each of the years ended December 31 (in thousands, except per share amounts). All outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends are considered participating securities.

	2019			2018			2017
Net income available to common shareholders	$	47,401		$	38,065		$	32,064
Weighted average common shares outstanding:
Total shares issued		16,086			16,056			15,235
Unvested restricted stock awards		(4	)		(8	)		(47	)
Treasury shares		(110	)		(138	)		(144	)
Total basic weighted average common shares outstanding		15,972			15,910			15,044
Incremental shares from assumed:
Exercise of stock options		-			2			9
Vesting of restricted stock awards		59			44			32
Total diluted weighted average common shares outstanding		16,031			15,956			15,085

Basic earnings per common share	$	2.97		$	2.39		$	2.13
Diluted earnings per common share	$	2.96		$	2.39		$	2.13

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	4	6	1
Total	4	6	1

There were no participating securities outstanding for the years ended December 2019, 2018 and 2017; therefore, the two-class method of calculating basic and diluted EPS was not applicable for the years presented.