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EARNINGS PER SHARE | 9 Months Ended
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Sep. 30, 2021
EARNINGS PER SHARE |
EARNINGS PER SHARE | NOTE 9: EARNINGS PER SHARE Basic earnings per share excludes dilution and is computed by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if contracts to issue common stock were exercised or converted into common stock that would then share in earnings. The following table sets forth the Company’s unaudited earnings per share calculations for the three and nine months ended September 30, 2021 and 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​
​ | ​ | September 30, 2021 | ​ | September 30, 2020 | ​
(dollars in thousands, except per share amounts) | ​ | Basic | ​ | Diluted | ​ | Basic | ​ | Diluted | ​
Net income |  | $ | 37,226 |  | $ | 37,226 |  | $ | 30,938 |  | $ | 30,938 | ​
Basic common shares outstanding | ​ |  | 44,819,743 | ​ |  | 44,819,743 | ​ |  | 44,625,668 | ​ |  | 44,625,668 | ​
Effect of options, restricted stock and contingent shares issuable | ​ | ​ | ​ | ​ | ​ | 183,194 | ​ | ​ | ​ | ​ | ​ | 260,108 | ​
Diluted common shares outstanding | ​ |  |  | ​ |  | 45,002,937 | ​ |  |  | ​ |  | 44,885,776 | ​
Earnings per share | ​ | $ | 0.83 | ​ | $ | 0.83 | ​ | $ | 0.69 | ​ | $ | 0.69 | ​
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, 2021 | ​ | September 30, 2020
(dollars in thousands, except share and per share amounts) | ​ | Basic | ​ | Diluted | ​ | Basic | ​ | Diluted
Net income |  | $ | 85,635 |  | $ | 85,635 |  | $ | 62,003 |  | $ | 62,003
Basic common shares outstanding | ​ |  | 44,773,683 | ​ |  | 44,773,683 | ​ |  | 44,638,634 | ​ |  | 44,638,634
Effect of options and restricted stock | ​ | ​ | ​ | ​ | ​ | 204,180 | ​ | ​ | ​ | ​ | ​ | 244,978
Diluted common shares outstanding | ​ |  |  | ​ |  | 44,977,863 | ​ |  |  | ​ |  | 44,883,612
Earnings per share | ​ | $ | 1.91 | ​ | $ | 1.90 | ​ | $ | 1.39 | ​ | $ | 1.38
​ Based on a weighted average basis, restricted stock units to purchase 39,439 shares of common stock were excluded for the nine months ended September 30 2020, because their effect would have been anti-dilutive.

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