Earnings Per Common Share

9 Months Ended

Sep. 30, 2023

Note 9. Earnings Per Common Share

Earnings per common share is computed using the two-class method. The following is a reconciliation of the weighted average number of common shares used in the calculation of basic and diluted earnings per common share and antidilutive stock options and restricted stock outstanding for the three and nine months ended September 30, 2023, and September 30, 2022:


	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars in thousands, except shares and per share amounts)	2023		2022		2023		2022
Numerator:
Net Income Available to Common Shareholders	$	45,934	$	50,832	$	134,898	$	158,589

Denominator:
Weighted Average Common Shares Outstanding - Basic		39,274,626		39,567,047		39,264,450		39,670,409
Dilutive Effect of Equity Based Awards		145,905		191,162		127,983		178,386
Weighted Average Common Shares Outstanding - Diluted		39,420,531		39,758,209		39,392,433		39,848,795

Earnings Per Common Share:
Basic	$	1.17	$	1.28	$	3.44	$	4.00
Diluted	$	1.17	$	1.28	$	3.42	$	3.98

Antidilutive Stock Options and Restricted Stock Outstanding		202,864		—		222,851		—