Earnings Per Share

3 Months Ended

Mar. 31, 2024

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:


	Three Months ended
(Dollars in thousands, except per share data)		March 31, 2024		March 31, 2023
Net income available to common stockholders, basic and diluted		$	32,627	61,211
Average outstanding shares - basic		112,492,142		110,824,648
Add: dilutive restricted stock units and stock options		62,260		57,060
Average outstanding shares - diluted		112,554,402		110,881,708
Basic earnings per share		$	0.29	0.55
Diluted earnings per share		$	0.29	0.55
Restricted stock units and stock options excluded from the diluted average outstanding share calculation 1		139,840		205,974

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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.