Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.22.2
Earnings Per Share
 6 Months Ended
Jun. 30, 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

For the Six Months Ended

June 30,

June 30,

(In thousands, except per share amounts)

2022

2021

2022

2021

Basic EPS:

Numerator:

Net income attributable to shareholders

$

17,784

$

19,501

$

33,771

$

22,475

Denominator:

Weighted average shares outstanding

20,226

20,912

20,500

20,128

Basic EPS

$

0.88

$

0.93

$

1.65

$

1.12

Diluted EPS

Numerator:

Net income attributable to shareholders

$

17,784

$

19,501

$

33,771

$

22,475

Denominator:

Basic - Weighted average shares outstanding

20,226

20,912

20,500

20,128

Dilutive effect of restricted stock rewards

163

-

178

-

Diluted weighted average number of common shares outstanding

20,389

20,912

20,678

20,128

Diluted EPS

$

0.87

$

0.93

$

1.63

$

1.12

During the three and six months ended June 30, 2022, 163,188 and 177,353, respectively, 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. During the three and six months ended June 30, 2021, 234,220 shares and 58,555 shares, respectively, of unvested restricted stock awards were excluded from the computation of diluted earnings per share as the shares were antidilutive under the treasury stock method.