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Earnings Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Reconciliation of 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

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, 2024 and 2023:

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

(dollars in thousands, except per share amounts)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net Income Available to Common Shareholders

 

$

36,922

 

 

$

45,934

 

 

$

103,457

 

 

$

134,898

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Common Shares Outstanding - Basic

 

 

39,488,187

 

 

 

39,274,626

 

 

 

39,429,815

 

 

 

39,264,450

 

Dilutive Effect of Equity Based Awards

 

 

248,305

 

 

 

145,905

 

 

 

224,890

 

 

 

127,983

 

Weighted Average Common Shares Outstanding - Diluted

 

 

39,736,492

 

 

 

39,420,531

 

 

 

39,654,705

 

 

 

39,392,433

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings Per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.94

 

 

$

1.17

 

 

$

2.62

 

 

$

3.44

 

Diluted

 

$

0.93

 

 

$

1.17

 

 

$

2.61

 

 

$

3.42

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Antidilutive Stock Options and Restricted Stock Outstanding

 

 

11,890

 

 

 

202,864

 

 

 

29,107

 

 

 

222,851