Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.22.1
Earnings Per Share
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Share 12. Earnings Per Share

The following table presents the calculation of the Company’s basic and diluted earnings per share (“EPS”):

For the Three Months Ended

March 31,

(In thousands, except per share amounts)

2022

2021

Basic EPS:

Numerator:

Net income

$

15,988

$

2,974

Denominator:

Weighted average shares outstanding

20,778

19,318

Basic EPS

$

0.77

$

0.15

Diluted EPS

Numerator:

Net income

$

15,988

$

2,974

Denominator:

Basic - weighted average shares outstanding

20,778

19,318

Dilutive effect of restricted stock rewards

193

-

Diluted weighted average number of common share outstanding

20,971

19,318

Diluted EPS

$

0.76

$

0.15

During the three months ended March 31, 2022, 193,631 of weighted average shares of unvested restricted stock awards outstanding were included in the computation of diluted earnings per share as the shares were dilutive. There were no unvested restricted stock awards outstanding during the three months ended March 31, 2021.