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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The Company previously granted restricted stock units that contained non-forfeitable rights to dividend equivalents which were considered participating securities. Prior to 2024, these restricted stock units were included in the calculation of basic earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings.
Diluted earnings per share is computed using the treasury stock method and reflects the potential dilution from the Company’s outstanding restricted stock units and performance restricted stock units.
The following table sets forth the computation of basic and diluted earnings per share:
Three Months Ended September 30,Nine Months Ended September 30,
(dollars in thousands)2024202320242023
Numerator:
Net income$18,180 $19,715 $51,508 $47,396 
Earnings allocated to participating securities— (10)— (26)
Numerator for earnings per share - basic and diluted$18,180 $19,705 $51,508 $47,370 
Denominator:
Weighted average common shares outstanding31,559,36631,829,25031,600,44231,598,650
Dilutive effect of outstanding restricted stock units118,180137,187115,266102,574
Weighted average common shares outstanding, including all dilutive potential shares31,677,54631,966,43731,715,70831,701,224
Earnings per share - Basic$0.58 $0.62 $1.63 $1.50 
Earnings per share - Diluted$0.57 $0.62 $1.62 $1.49