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EARNINGS PER COMMON SHARE (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2022:

						Three Months Ended September 30, 2022												Nine Months Ended September 30, 2022
($ in thousands except per share data)						Common Stock						Class B Common Stock												Common Stock						Class B Common Stock
Net income						$	24,004					$	192											$	98,646					$	774
Less: preferred stock dividends						—						—												(1,409)						(11)
Less: preferred stock redemption						—						—												(3,718)						(29)
Net income allocated to common stockholders						$	24,004					$	192											$	93,519					$	734
Weighted average common shares outstanding						59,567,082						477,321												60,846,798						477,321
Dilutive effects of restricted shares/units						444,321						—												331,389						—
Dilutive effects of stock options						3,736						—												4,392						—
Average shares and dilutive common shares						60,015,139						477,321												61,182,579						477,321
Basic earnings per common share						$	0.40					$	0.40											$	1.54					$	1.54
Diluted earnings per common share						$	0.40					$	0.40											$	1.53					$	1.54

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

						Three Months Ended September 30, 2021												Nine Months Ended September 30, 2021
($ in thousands except per share data)						Common Stock						Class B Common Stock												Common Stock						Class B Common Stock
Net income						$	22,953					$	217											$	56,061					$	534
Less: income allocated to participating securities						—						—												(158)						(2)
Less: preferred stock dividends						(1,711)						(16)												(6,533)						(62)
Less: preferred stock redemption						—						—												(3,315)						(32)
Net income allocated to common stockholders						$	21,242					$	201											$	46,055					$	438
Weighted average common shares outstanding						50,239,359						477,321												50,096,607						477,321
Dilutive effects of stock units						188,850						—												242,803						—
Dilutive effects of stock options						3,787						—												5,241						—
Average shares and dilutive common shares						50,431,996						477,321												50,344,651						477,321
Basic earnings per common share						$	0.42					$	0.42											$	0.92					$	0.92
Diluted earnings per common share						$	0.42					$	0.42											$	0.91					$	0.92

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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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