EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023

4. EARNINGS PER SHARE

The following table shows the computation of basic and diluted earnings per share:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars and shares in thousands, except per share data)	2023		2022		2023		2022
Numerator:
Net income attributable to WSFS	$	74,166	$	73,382	$	205,248	$	137,926
Denominator:
Weighted average basic shares	60,942		63,048		61,265		64,064
Dilutive potential common shares	97		180		103		219
Weighted average fully diluted shares	61,039		63,228		$	61,368	$	64,283
Earnings per share:
Basic	$	1.22	$	1.16	$	3.35	$	2.15
Diluted	$	1.22	$	1.16	$	3.34	$	2.15
Outstanding common stock equivalents having no dilutive effect	18		2		18		7

Basic earnings per share is calculated by dividing Net income attributable to WSFS by the weighted-average basic shares outstanding. Diluted earnings per share is calculated by dividing Net income attributable to WSFS by the weighted-average fully diluted shares outstanding, using the treasury stock method. Fully diluted shares include the adjustment for the dilutive effect of common stock awards, which include outstanding stock options and unvested restricted stock units under the 2013 Incentive Plan and the 2018 Incentive Plan.