Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share

Earnings Per Share

16) Earnings Per Share

Basic earnings per common share is computed by dividing net income, less dividends and discount accretion on preferred stock, by the weighted average common shares outstanding. Diluted earnings per share reflect potential dilution from outstanding stock options using the treasury stock method. There were 1,655,654 weighted average stock options for the year ended December 31, 2023, considered to be antidilutive and excluded from the computation of diluted earnings per share. There were 79,793 weighted average RSUs outstanding for the year ended December 31, 2023 considered to be antidilutive and excluded from the computation of diluted earnings per shares. There were 1,230,319 weighted average stock options for the year ended December 31, 2022, considered to be antidilutive and excluded from the computation of diluted earnings per share. There were 952,395 weighted average stock options for the year ended December 31, 2021, considered to be antidilutive and excluded from the computation of diluted earnings per share. A reconciliation of these factors used in computing basic and diluted earnings per common share is as follows:

	Year Ended December 31,
	2023		2022		2021
	(Dollars in thousands, except per share amounts)
Net income	$	64,443	$	66,555	$	$ 47,700
Weighted average common shares outstanding
for basic earnings per common share		61,038,857		60,602,962		60,133,821
Dilutive potential common shares		272,461		487,328		555,241
Shares used in computing diluted earnings per common share		61,311,318		61,090,290		60,689,062
Basic earnings per share	$	1.06	$	1.10	$	0.79
Diluted earnings per share	$	1.05	$	1.09	$	0.79