EARNINGS PER COMMON SHARE (Tables)

3 Months Ended

Mar. 31, 2022

The following table presents computations of basic and diluted earnings (loss) per common share ("EPS") for the three months ended March 31, 2022:



	Three Months Ended March 31, 2022
($ in thousands except per share data)	Common Stock		Class B Common Stock
Net income	$	48,142	$	370


Less: preferred stock dividends	(1,409)		(11)
Less: preferred stock redemption	(3,718)		(29)


Net income allocated to common stockholders	$	43,015	$	330

Weighted average common shares outstanding	62,129,129		477,321
Dilutive effects of restricted shares/units	294,432		—

Dilutive effects of stock options	5,121		—

Average shares and dilutive common shares	62,428,682		477,321




Basic earnings per common share	$	0.69	$	0.69



Diluted earnings per common share	$	0.69	$	0.69

The following table presents computations of basic and diluted EPS for the three months ended March 31, 2021:



	Three Months Ended March 31, 2021
($ in thousands except per share data)	Common Stock		Class B Common Stock
Net income	$	14,239	$	136
Less: income allocated to participating securities	(61)		(1)

Less: preferred stock dividends	(3,111)		(30)
Less: preferred stock redemption	(3,316)		(31)


Net income allocated to common stockholders	$	7,751	$	74

Weighted average common shares outstanding	49,873,576		477,321
Dilutive effects of stock units	391,206		—

Dilutive effects of stock options	8,419		—

Average shares and dilutive common shares	50,273,201		477,321




Basic earnings per common share	$	0.16	$	0.16



Diluted earnings per common share	$	0.15	$	0.15