Earnings Per Share

9 Months Ended

Sep. 30, 2024

10.	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 September 30,
(In thousands, except per share data)	2024		2023
Basic EPS:
Weighted average common shares outstanding		47,172		45,163
Net income available to common stockholders	$	38,097	$	24,606
Basic EPS	$	0.81	$	0.54

Diluted EPS:
Weighted average common shares outstanding		47,172		45,163
Dilutive effect of common stock options and restricted stock		301		236
Weighted average common shares and common share equivalents		47,473		45,399
Net income available to common stockholders	$	38,097	$	24,606
Diluted EPS	$	0.80	$	0.54

Anti-dilutive stock options and restricted stock outstanding		-		27

	Nine Months Ended September 30,
(In thousands, except per share data)	2024		2023
Basic EPS:
Weighted average common shares outstanding		47,159		43,662
Net income available to common stockholders	$	104,636	$	88,336
Basic EPS	$	2.22	$	2.02

Diluted EPS:
Weighted average common shares outstanding		47,159		43,662
Dilutive effect of common stock options and restricted stock		251		234
Weighted average common shares and common share equivalents		47,410		43,896
Net income available to common stockholders	$	104,636	$	88,336
Diluted EPS	$	2.21	$	2.01

Anti-dilutive stock options and restricted stock outstanding		1		25