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EARNINGS PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Common Share

The following table presents computations of basic and diluted earnings per common share ("EPS") for the three and six months ended June 30, 2022:

						Three Months Ended June 30, 2022												Six Months Ended June 30, 2022
($ in thousands except per share data)						Common Stock						Class B Common Stock												Common Stock						Class B Common Stock
Net income						$	26,504					$	208											$	74,645					$	579
Less: preferred stock dividends						—						—												(1,409)						(11)
Less: preferred stock redemption						—						—												(3,718)						(29)
Net income allocated to common stockholders						$	26,504					$	208											$	69,518					$	539
Weighted average common shares outstanding						60,873,481						477,321												61,497,261						477,321
Dilutive effects of restricted shares/units						245,571						—												269,093						—
Dilutive effects of stock options						4,242						—												4,701						—
Average shares and dilutive common shares						61,123,294						477,321												61,771,055						477,321
Basic earnings per common share						$	0.44					$	0.44											$	1.13					$	1.13
Diluted earnings per common share						$	0.43					$	0.44											$	1.13					$	1.13

The following table presents computations of basic and diluted EPS for the three and six months ended June 30, 2021:

						Three Months Ended June 30, 2021												Six Months Ended June 30, 2021
($ in thousands except per share data)						Common Stock						Class B Common Stock												Common Stock						Class B Common Stock
Net income						$	18,870					$	180											$	33,109					$	316
Less: income allocated to participating securities						—						—												(121)						(1)
Less: preferred stock dividends						(1,711)						(16)												(4,822)						(46)
Less: preferred stock redemption						—						—												(3,315)						(32)
Net income allocated to common stockholders						$	17,159					$	164											$	24,851					$	237
Weighted average common shares outstanding						50,172,865						477,321												50,024,048						477,321
Dilutive effects of stock units						238,008						—												302,848						—
Dilutive effects of stock options						4,008						—												6,068						—
Average shares and dilutive common shares						50,414,881						477,321												50,332,964						477,321
Basic earnings per common share						$	0.34					$	0.34											$	0.50					$	0.50
Diluted earnings per common share						$	0.34					$	0.34											$	0.49					$	0.50

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- References

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

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