Earnings Per Share

12 Months Ended

Dec. 31, 2023

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, 2023		December 31, 2022	December 31, 2021
Net income available to common stockholders, basic and diluted	$	222,927	303,202	284,757
Average outstanding shares - basic	110,864,501		110,757,473	99,313,255
Add: dilutive restricted stock units and stock options	25,946		70,460	84,995
Average outstanding shares - diluted	110,890,447		110,827,933	99,398,250
Basic earnings per share	$	2.01	2.74	2.87
Diluted earnings per share	$	2.01	2.74	2.86
Restricted stock units and stock options excluded from the   diluted average outstanding share calculation 1	223,626		8,642	194

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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.