EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2022

Earnings per Common Share

The following table sets forth the computation of basic and diluted earnings per share:


(Dollars in thousands, except share and per share data)	2022		2021		2020
Numerator
Net income	$	217,612	$	205,160	$	155,810

Denominator
Basic earnings per common share - weighted average shares	93,528,712		95,034,690		97,363,952
Effect of dilutive securities
Employee stock awards	1,058,139		862,695		729,146

Diluted earnings per common share - adjusted weighted average shares	94,586,851		95,897,385		98,093,098

Earnings per share available to common shareholders
Basic	$	2.33	$	2.16	$	1.60
Diluted	$	2.30	$	2.14	$	1.59

Stock options and warrants with exercise prices greater than the average market price of the common shares are excluded from the computation of net income per diluted share, as they would be antidilutive. Using the end of period price of the Company's common shares, there were no antidilutive options at December 31, 2022, 2021, or 2020.

As of December 31, 2022, 2021, and 2020, First Financial was authorized to issue 10,000,000 preferred shares; however, no preferred shares were issued or outstanding.