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CALCULATION OF EARNINGS PER COMMON SHARE | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
CALCULATION OF EARNINGS PER COMMON SHARE | The following table reconciles basic to diluted weighted average shares outstanding used to calculate earnings per share data (dollars in thousands, except per share data):
| Years Ended December 31
| 2024 |  | 2023 |  | 2022
Net income | $ | 168,898 |  |  | $ | 183,624 |  |  | $ | 195,378 |
Basic weighted average shares outstanding | 34,470,057 |  |  | 34,344,142 |  |  | 34,264,322 |
Dilutive effect of unvested restricted stock | 158,653 |  |  | 106,270 |  |  | 195,600 |
Diluted weighted shares outstanding | 34,628,710 |  |  | 34,450,412 |  |  | 34,459,922 |
Earnings per common share |  |  |  |  |
Basic | $ | 4.90 |  |  | $ | 5.35 |  |  | $ | 5.70 |
Diluted | $ | 4.88 |  |  | $ | 5.33 |  |  | $ | 5.67 |
Anti-dilutive restricted stock excluded from the diluted average outstanding share calculation (1) | 1,929 |  |  | 21,865 |  |  | — |
(1)Anti-dilution occurs when the unrecognized compensation cost per share of restricted stock exceeds the current market price of the Company’s stock.

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