Earnings Per Share

6 Months Ended

Jun. 30, 2024

9.	Earnings Per Share

Basic EPS excludes dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity (such as the Company’s dilutive stock options and restricted stock units).

The following is a reconciliation of basic and diluted EPS for the periods presented in the unaudited interim consolidated statements of income:

	Three Months Ended June 30,
(In thousands, except per share data)	2024		2023
Basic EPS:
Weighted average common shares outstanding		47,158		42,905
Net income available to common stockholders	$	32,716	$	30,072
Basic EPS	$	0.69	$	0.70

Diluted EPS:
Weighted average common shares outstanding		47,158		42,905
Dilutive effect of common stock options and restricted stock		225		221
Weighted average common shares and common share equivalents		47,383		43,126
Net income available to common stockholders	$	32,716	$	30,072
Diluted EPS	$	0.69	$	0.70

Anti-dilutive stock options and restricted stock outstanding		2		61

	Six Months Ended June 30,
(In thousands, except per share data)	2024		2023
Basic EPS:
Weighted average common shares outstanding		47,153		42,900
Net income available to common stockholders	$	66,539	$	63,730
Basic EPS	$	1.41	$	1.49

Diluted EPS:
Weighted average common shares outstanding		47,153		42,900
Dilutive effect of common stock options and restricted stock		228		229
Weighted average common shares and common share equivalents		47,381		43,129
Net income available to common stockholders	$	66,539	$	63,730
Diluted EPS	$	1.40	$	1.48

Anti-dilutive stock options and restricted stock outstanding		2		24