Earnings per Share

12 Months Ended

Dec. 31, 2024

Note 23—Earnings per Share

A reconciliation of the numerators and denominators for earnings per common share computations is presented below. Incremental shares represent outstanding stock options for which the exercise price is less than the average market price of the Company’s common stock during the periods presented. Options to purchase 379,872, 871,699, and 930,852 shares of common stock were outstanding as of December 31, 2024, 2023, and 2022, respectively. There were 751,127, 627,271, and 581,337 restricted stock awards outstanding at December 31, 2024, 2023, and 2022, respectively. At December 31, 2024, 2023, and 2022, there were no stock options outstanding excluded from the calculation of diluted earnings per common share for anti-dilutive purposes. There were no non-vested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents as of December 31, 2024, 2023 or 2022.


	Years ended December 31,
	2024		2023		2022
Net income	$	120,759	$	107,878	$	87,954
Less: Dividends on preferred shares		—		—		196
Net income available to common stockholders	$	120,759	$	107,878	$	87,758
Weighted-average common stock outstanding:
Weighted-average common stock outstanding (basic)		43,448,856		40,045,208		36,972,972
Incremental shares		405,083		400,345		503,148
Weighted-average common stock outstanding (dilutive)		43,853,939		40,445,553		37,476,120
Basic earnings per common share	$	2.78	$	2.69	$	2.37
Diluted earnings per common share	$	2.75	$	2.67	$	2.34