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Earnings Per Common Share (Tables) | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Schedule of computation of earnings per common share | Earnings per common share have been computed as follows (dollars in thousands, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net income | $ | 30,666 |  |  | $ | 35,661 |  |  | $ | 96,816 |  |  | $ | 93,924 |
Weighted average number of common shares outstanding, basic | 55,486,700 |  |  | 55,349,547 |  |  | 55,441,980 |  |  | 55,399,424 |
Dilutive effect of common stock equivalents: |  |  |  |  |  |  |
Options | — |  |  | 249 |  |  | — |  |  | 1,606 |
Warrants | — |  |  | 1,708 |  |  | 432 |  |  | 1,749 |
RSU awards | 640,714 |  |  | 624,576 |  |  | 638,495 |  |  | 661,173 |
PSU awards | 165,868 |  |  | 81,268 |  |  | 126,787 |  |  | 37,393 |
DSU awards | 16,792 |  |  | 10,414 |  |  | 14,996 |  |  | 14,275 |
ESPP | 5,418 |  |  | 5,402 |  |  | 7,934 |  |  | 8,136 |
Weighted average number of common shares outstanding, diluted | 56,315,492 |  |  | 56,073,164 |  |  | 56,230,624 |  |  | 56,123,756 |
Basic earnings per common share | $ | 0.55 |  |  | $ | 0.64 |  |  | $ | 1.75 |  |  | $ | 1.70 |
Diluted earnings per common share | $ | 0.54 |  |  | $ | 0.64 |  |  | $ | 1.72 |  |  | $ | 1.67 |
Schedule of average shares excluded from computation of diluted earnings per common share | Average shares that were excluded from the computation of diluted earnings per common share because their effect would have been anti-dilutive are summarized in the table below for the periods presented:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Anti-dilutive common stock equivalents |  |  |  |  |  |  |
Options | 21,926 |  | — |  | 22,219 |  |  | 10,389
RSU awards | — |  | — |  | 52,594 |  |  | 51,883
PSU awards | 85,074 |  | 160,391 |  | 137,918 |  |  | 226,771
Total anti-dilutive common stock equivalents | 107,000 |  |  | 160,391 |  | 212,731 |  |  | 289,043

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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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 -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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