Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

v3.22.1
Earnings per Share (Tables)
3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Reconciliation of Components Used to Derive Basic and Diluted EPS

The following table is a reconciliation of the components used to derive basic and diluted EPS for the periods indicated:

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

(dollars in thousands, except per share amounts)

 

Basic EPS

 

 

 

 

 

 

 

 

Net income

 

$

20,695

 

 

$

16,659

 

Less: income allocated to unvested restricted stock

 

 

124

 

 

 

100

 

Income allocated to common shares

 

$

20,571

 

 

$

16,559

 

Weighted-average shares for basic EPS

 

 

30,254,212

 

 

 

30,461,681

 

Basic EPS (1)

 

$

0.68

 

 

$

0.54

 

 

 

 

 

 

 

 

 

 

Effect of dilutive stock options and unvested performance restricted stock

 

 

123,368

 

 

 

12,289

 

 

 

 

 

 

 

 

 

 

Diluted EPS

 

 

 

 

 

 

 

 

Income allocated to common shares

 

$

20,571

 

 

$

16,559

 

Weighted-average shares for diluted EPS

 

 

30,377,580

 

 

 

30,473,970

 

Diluted EPS (1)

 

$

0.68

 

 

$

0.54

 

 

(1)

Per share amounts may not be able to be recalculated using net income and weighted-average shares presented above due to rounding.