EARNINGS PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2023

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, 2023:



	Three Months Ended September 30, 2023				Nine Months Ended September 30, 2023
($ in thousands except per share data)	Common Stock		Class B Common Stock			Common Stock		Class B Common Stock
Net income	$	42,220	$	354		$	80,068	$	663








Weighted average common shares outstanding	56,957,053		477,321			57,659,924		477,321
Dilutive effects of restricted shares/units	87,109		—			92,269		—

Dilutive effects of stock options	353		—			623		—

Average shares and dilutive common shares	57,044,515		477,321			57,752,816		477,321




Basic earnings per common share	$	0.74	$	0.74		$	1.39	$	1.39



Diluted earnings per common share	$	0.74	$	0.74		$	1.39	$	1.39

The following table presents computations of basic and diluted 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