Earnings Per Common Share ("EPS")

6 Months Ended

Jun. 30, 2021

(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