Earnings Per Share

3 Months Ended

Mar. 31, 2025

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, 2025		March 31, 2024
Net income available to common stockholders, basic and diluted		$	54,568	32,627
Average outstanding shares - basic		113,451,199		112,492,142
Add: dilutive restricted stock units and stock options		95,166		62,260
Average outstanding shares - diluted		113,546,365		112,554,402
Basic earnings per share		$	0.48	0.29
Diluted earnings per share		$	0.48	0.29
Restricted stock units and stock options excluded from the diluted average outstanding share calculation 1		73,900		139,840

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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.