Earnings Per Share

6 Months Ended

Jun. 30, 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			Six Months ended
(Dollars in thousands, except per share data)	June 30, 2024		June 30, 2023	June 30, 2024		June 30, 2023
Net income available to common stockholders, basic and diluted	$	44,708	54,955	$	77,335	116,166
Average outstanding shares - basic	113,390,539		110,870,964	112,941,341		110,847,806
Add: dilutive restricted stock units and stock options	14,952		4,571	40,190		31,848
Average outstanding shares - diluted	113,405,491		110,875,535	112,981,531		110,879,654
Basic earnings per share	$	0.39	0.50	$	0.68	1.05
Diluted earnings per share	$	0.39	0.50	$	0.68	1.05
Restricted stock units and stock options excluded from the diluted average outstanding share calculation 1	136,673		288,413	136,673		250,651

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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.