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EARNINGS PER COMMON SHARE (Tables) | 9 Months Ended
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Sep. 30, 2024
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,
| 2024 |  | 2023 |  | 2024 |  | 2023
Net income | $ | 32,004 |  |  | $ | 30,666 |  |  | $ | 85,586 |  |  | $ | 96,816 |
Weighted average number of common shares outstanding, basic | 57,033,359 |  | 55,486,700 |  | 56,458,430 |  | 55,441,980
Dilutive effect of common stock equivalents: |  |  |  |  |  |  |
Options | 1,714 |  | — |  | 572 |  | —
Warrants | — |  | — |  | — |  | 432
RSU awards | 655,224 |  | 640,714 |  | 662,609 |  | 638,495
PSU awards | 254,365 |  | 165,868 |  | 264,451 |  | 126,787
DSU awards | 16,766 |  | 16,792 |  | 18,390 |  | 14,996
ESPP | 6,420 |  | 5,418 |  | 6,847 |  | 7,934
Weighted average number of common shares outstanding, diluted | 57,967,848 |  | 56,315,492 |  | 57,411,299 |  | 56,230,624
Basic earnings per common share | $ | 0.56 |  |  | $ | 0.55 |  |  | $ | 1.52 |  |  | $ | 1.75 |
Diluted earnings per common share | $ | 0.55 |  |  | $ | 0.54 |  |  | $ | 1.49 |  |  | $ | 1.72 |
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,
| 2024 |  | 2023 |  | 2024 |  | 2023
Anti-dilutive common stock equivalents |  |  |  |  |  |  |
Options | — |  | 21,926 |  | 12,784 |  | 22,219
RSU awards | — |  | — |  | 4,288 |  | 52,594
PSU awards | 107,065 |  | 85,074 |  | 103,001 |  | 137,918
Total anti-dilutive common stock equivalents | 107,065 |  | 107,000 |  | 120,073 |  | 212,731

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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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