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Earnings per Common Share (Tables)
 12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings per Common Share

The factors used in the earnings per share computation follow.

 

 

 

2020

 

 

2019

 

 

2018

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

32,192

 

 

$

33,878

 

 

$

14,139

 

Preferred stock dividends

 

 

—

 

 

 

647

 

 

 

959

 

Net income available to common

   shareholders—basic

 

$

32,192

 

 

$

33,231

 

 

$

13,180

 

Weighted average common shares

   outstanding—basic

 

 

16,129,875

 

 

 

15,652,881

 

 

 

11,971,786

 

Basic earnings per share

 

$

2.00

 

 

$

2.12

 

 

$

1.10

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to common

   shareholders—basic

 

$

32,192

 

 

$

33,231

 

 

$

13,180

 

Preferred stock dividends on convertible

   preferred stock

 

 

—

 

 

 

647

 

 

 

959

 

Net income available to common

   shareholders—diluted

 

$

32,192

 

 

$

33,878

 

 

$

14,139

 

Weighted average common shares outstanding

   for earnings per common share basic

 

 

16,129,875

 

 

 

15,652,881

 

 

 

11,971,786

 

Add: dilutive effects of convertible preferred

   shares

 

 

—

 

 

 

1,198,859

 

 

 

1,883,921

 

Average shares and dilutive potential

   common shares outstanding—diluted

 

 

16,129,875

 

 

 

16,851,740

 

 

 

13,855,707

 

Diluted earnings per share

 

$

2.00

 

 

$

2.01

 

 

$

1.02