Earnings per Share

3 Months Ended

Mar. 31, 2024

Basic earnings per common share are computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share are based on the

weighted-average number of common shares outstanding during each period, plus common share equivalents, calculated for share-based awards outstanding using the treasury stock method.

For the three months ended March 31, 2024, 327,006 options to purchase shares of the Company’s common stock were anti-dilutive. For the three months ended March 31, 2023, 161,251 options to purchase shares of the Company’s common stock were anti-dilutive.


	Three Months Ended March 31,
(Dollars in thousands, except per share data)		2024		2023
Basic earnings per share
Net income		$	26,006	$	11,827
Average common shares outstanding		84,908		80,151
Net income per share		$	0.31	$	0.15

Diluted earnings per share
Net income		$	26,006	$	11,827
Average common shares outstanding		84,908		80,151
Add: Dilutive effect of employee restricted stock and stock options		362		566
Average diluted shares outstanding		85,270		80,717
Net income per share		$	0.31	$	0.15