Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Earnings Per Share, Basic and Diluted

The following table summarizes the average number of common shares and the net income used in the calculation of basic and diluted earnings per common share ($ in thousands, except share and per share amounts):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Net income	$	34,952	$	39,447	$	65,610	$	73,630
Add: net loss attributable to noncontrolling interests	304		332		593		633
Net income attributable to stockholders	35,256		39,779		66,203		74,263
Less: net income attributable to unvested restricted stock awards	(29)		(19)		(61)		(19)
Net income attributable to common stockholders - basic	$	35,227	$	39,760	$	66,142	$	74,244

BASIC:
Weighted average common shares outstanding	43,397,080		43,388,753		43,392,961		43,388,748

DILUTED:
Weighted average common shares outstanding	43,397,080		43,388,753		43,392,961		43,388,748
Stock options	166,574		—		101,142		1,344
Weighted average dilutive common shares outstanding	43,563,654		43,388,753		43,494,103		43,390,092

Earnings per common share - basic	$	0.81	$	0.92	$	1.52	$	1.71
Earnings per common share - diluted	$	0.81	$	0.92	$	1.52	$	1.71

Incremental anti-dilutive shares excluded:
Net share effect of stock options with an exercise price in excess of the average market price for our common shares	261,255		903,425		376,965		776,771

Regular dividends declared per common share	$	0.90	$	0.90	$	1.80	$	1.80