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Net Income Per Common Share (Tables)
9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Basic and Diluted Net Income Per Common Share

Basic and diluted net income per common share are calculated as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(Dollars in thousands, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Numerator)

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders

 

$

58,903

 

 

$

50,988

 

 

$

159,878

 

 

$

163,531

 

(Denominator)

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding for basic earnings per common share

 

 

33,097,164

 

 

 

32,937,149

 

 

 

33,015,741

 

 

 

32,916,996

 

Dilutive effect of stock compensation

 

 

549,385

 

 

 

602,240

 

 

 

551,376

 

 

 

576,019

 

Weighted-average shares outstanding for diluted earnings per common share

 

 

33,646,549

 

 

 

33,539,389

 

 

 

33,567,117

 

 

 

33,493,015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

1.78

 

 

$

1.55

 

 

$

4.84

 

 

$

4.97

 

Diluted earnings per share

 

$

1.75

 

 

$

1.52

 

 

$

4.76

 

 

$

4.88

 

Average Exercise Price of Options Excluded from Computation of Diluted Net Income Per Common Share

The following table shows the number of options and RSU's that were excluded from the computation of diluted net income per common share for each period because they were anti-dilutive for the period:

 

 

Shares

 

Three Months Ended September 30, 2024

 

 

204,005

 

Three Months Ended September 30, 2023

 

 

263,176

 

Nine Months Ended September 30, 2024

 

 

250,142

 

Nine Months Ended September 30, 2023

 

 

278,828