Earnings Per Share

12 Months Ended

Dec. 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:


	Years ended
(Dollars in thousands, except per share data)	December 31, 2024		December 31, 2023	December 31, 2022
Net income available to common stockholders, basic and diluted	$	190,144	222,927	303,202
Average outstanding shares - basic	113,170,157		110,864,501	110,757,473
Add: dilutive restricted stock units and stock options	73,270		25,946	70,460
Average outstanding shares - diluted	113,243,427		110,890,447	110,827,933
Basic earnings per share	$	1.68	2.01	2.74
Diluted earnings per share	$	1.68	2.01	2.74
Restricted stock units and stock options excluded from the diluted average outstanding share calculation 1	461		223,626	8,642

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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.