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Earnings Per Common Share (Tables)
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Weighted Average Number of Common Shares Used in the Calculation of Basic and Diluted Earnings Per Common Share and Antidilutive Stock Options and Restricted Stock Outstanding

Earnings per common share is computed using the two-class method. The following is a reconciliation of the weighted average number of common shares used in the calculation of basic and diluted earnings per common share and antidilutive stock options and restricted stock outstanding for the three and six months ended June 30, 2024 and June 30, 2023:

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

(dollars in thousands, except shares and per share amounts)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net Income Available to Common Shareholders

 

$

32,114

 

 

$

44,092

 

 

$

66,536

 

 

$

88,965

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Common Shares Outstanding - Basic

 

 

39,450,551

 

 

 

39,241,559

 

 

 

39,400,452

 

 

 

39,259,279

 

Dilutive Effect of Equity Based Awards

 

 

168,154

 

 

 

75,962

 

 

 

218,322

 

 

 

123,080

 

Weighted Average Common Shares Outstanding - Diluted

 

 

39,618,705

 

 

 

39,317,521

 

 

 

39,618,774

 

 

 

39,382,359

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings Per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.81

 

 

$

1.12

 

 

$

1.69

 

 

$

2.27

 

Diluted

 

$

0.81

 

 

$

1.12

 

 

$

1.68

 

 

$

2.26

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Antidilutive Stock Options and Restricted Stock Outstanding

 

 

11,272

 

 

 

411,640

 

 

 

11,272

 

 

 

226,646