v3.22.1
EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2022
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 10: 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 months ended March 31:

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Three Months Ended

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Three Months Ended

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March 31, 2022

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March 31, 2021

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(dollars in thousands, except per share amounts)

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Basic

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Diluted

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Basic

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Diluted

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Net income

    

$

30,836

    

$

30,836

    

$

22,355

    

$

22,355

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Basic common shares outstanding

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56,465,855

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56,465,855

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44,707,718

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44,707,718

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Effect of options, restricted stock and contingent shares issuable

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99,990

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304,487

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Diluted common shares outstanding

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56,565,845

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45,012,205

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Earnings per share

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$

0.55

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$

0.55

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$

0.50

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$

0.50

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Based on a weighted average basis, stock options and restricted stock units to purchase 99,990 and 102,708 shares of common stock were excluded for the three months ended March 31, 2022 and 2021, respectively, because their effect would have been anti-dilutive.