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Earnings Per Common Share ("EPS") | 6 Months Ended
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Jun. 30, 2021
Earnings Per Share [Abstract] |
Earnings Per Common Share ("EPS") |
(4.) | 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 June 30, |  |  | Six months ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Net income available to common shareholders |  | $ | 19,834 |  |  | $ | 10,766 |  |  | $ | 40,179 |  |  | $ | 11,528 |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total shares issued |  |  | 16,100 |  |  |  | 16,100 |  |  |  | 16,100 |  |  |  | 16,100 |
Unvested restricted stock awards |  |  | (6 | ) |  |  | (5 | ) |  |  | (6 | ) |  |  | (4 | )
Treasury shares |  |  | (269 | ) |  |  | (77 | ) |  |  | (237 | ) |  |  | (84 | )
Total basic weighted average common shares outstanding |  |  | 15,825 |  |  |  | 16,018 |  |  |  | 15,857 |  |  |  | 16,012 |
Incremental shares from assumed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Exercise of stock options |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Vesting of restricted stock awards |  |  | 88 |  |  |  | 29 |  |  |  | 86 |  |  |  | 46 |
Total diluted weighted average common shares outstanding |  |  | 15,913 |  |  |  | 16,047 |  |  |  | 15,943 |  |  |  | 16,058 |
Basic earnings per common share |  | $ | 1.25 |  |  | $ | 0.67 |  |  | $ | 2.53 |  |  | $ | 0.72 |
Diluted earnings per common share |  | $ | 1.25 |  |  | $ | 0.67 |  |  | $ | 2.52 |  |  | $ | 0.72 |
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 (in thousands):
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Stock options |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Restricted stock awards |  |  | 1 |  |  |  | 74 |  |  |  | 6 |  |  |  | 38 |
Total |  |  | 1 |  |  |  | 74 |  |  |  | 6 |  |  |  | 38 |

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