Earnings Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period presented. Diluted earnings per share is computed by including the net increase in shares as if dilutive outstanding restricted stock units were vested and stock options were exercised, using the treasury stock method.

Basic and diluted earnings per share has been computed based on the following:

	Years ended
(Dollars in thousands, except per share data)	December 31, 2022		December 31, 2021	December 31, 2020
Net income available to common stockholders, basic and diluted	$	303,202	284,757	266,400
Average outstanding shares - basic	110,757,473		99,313,255	94,883,864
Add: dilutive restricted stock units and stock options	70,460		84,995	48,489
Average outstanding shares - diluted	110,827,933		99,398,250	94,932,353
Basic earnings per share	$	2.74	2.87	2.81
Diluted earnings per share	$	2.74	2.86	2.81
Restricted stock units and stock options excluded from the   diluted average outstanding share calculation 1	8,642		194	88,240

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1 Anti-dilution occurs when the unrecognized compensation cost per share of a restricted stock unit or the exercise price of a stock option exceeds the market price of the Company’s stock.