(2) Earnings per Common Share
Basic earnings per common share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average common shares outstanding during the period reduced by unearned ESOP Plan shares and treasury shares. Diluted earnings per common share takes into account the potential dilution computed pursuant to the treasury stock method that could occur if stock options were exercised and converted into common stock and if restricted stock awards were vested. The effects of stock options are exc luded from the computation of diluted earnings per share in periods in which the effect would be anti-dilutive.
Three Months Ended | Nine Months Ended | |||||||||||
September 30, | September 30, | |||||||||||
(dollars in thousands, except per share data) |
| 2021 |
| 2020 | 2021 |
| 2020 | |||||
Numerator: | ||||||||||||
Net income available to common stockholders | $ | 9,438 | 9,212 | $ | 27,866 | 17,441 | ||||||
Denominator for basic earnings per share | ||||||||||||
Weighted average shares outstanding | 6,157 | 6,099 | 6,148 | 6,172 | ||||||||
Average unearned ESOP shares | (112) | — | (115) | — | ||||||||
Basic weighted averages shares outstanding | 6,045 | 6,099 | 6,033 | 6,172 | ||||||||
Effect of dilutive common shares | 186 | 11 | 168 | 21 | ||||||||
Denominator for diluted earnings per share - adjusted weighted average shares outstanding | 6,231 | 6,110 | 6,201 | 6,193 | ||||||||
Basic earnings per share | $ | 1.56 | 1.51 | $ | 4.62 | 2.83 | ||||||
Diluted earnings per share | $ | 1.52 | 1.51 | $ | 4.49 | 2.82 | ||||||
Antidilutive shares excluded from computation of average dilutive earnings per share | 140 | 265 | 140 | 192 | ||||||||
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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