Earnings per Share

3 Months Ended

Mar. 31, 2025

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 EPS 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, 2025, 327,620 options to purchase shares of the Company’s common stock were anti-dilutive. For the three months ended March 31, 2024, 327,006 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)	2025		2024
Basic earnings per share
Net income	$	31,464	$	26,006
Average common shares outstanding	84,648		84,908
Net income per share	$	0.37	$	0.31

Diluted earnings per share
Net income	$	31,464	$	26,006
Average common shares outstanding	84,648		84,908
Add: Dilutive effect of restricted stock and stock options	740		362
Average diluted shares outstanding	85,388		85,270
Net income per share	$	0.37	$	0.31