Earnings per Share

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2024, options to purchase shares of the Company’s common stock totaling 327,805 and 328,166, respectively, were anti-dilutive. For the three and six months ended June 30, 2023, options to purchase shares of the Company’s common stock totaling 400,998 and 368,169, respectively, were anti-dilutive.


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands, except per share data)	2024		2023		2024		2023
Basic earnings per share
Net income	$	30,244	$	31,249	$	56,250	$	43,076
Average common shares outstanding	84,341		85,022		84,260		82,600
Net income per share	$	0.36	$	0.37	$	0.67	$	0.52

Diluted earnings per share
Net income	$	30,244	$	31,249	$	56,250	$	43,076
Average common shares outstanding	84,341		85,022		84,260		82,600
Add: Dilutive effect of employee restricted stock and stock options	475		514		539		660
Average diluted shares outstanding	84,816		85,536		84,799		83,260
Net income per share	$	0.36	$	0.37	$	0.66	$	0.52