| 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:
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
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2022 |
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2021 |
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2022 |
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2021 |
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(dollars in thousands, except per share amounts) |
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Basic EPS |
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Net income |
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$ |
27,169 |
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$ |
26,565 |
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$ |
72,915 |
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$ |
65,346 |
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Less: income allocated to unvested restricted stock |
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163 |
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138 |
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|
408 |
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|
948 |
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Income allocated to common shares |
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$ |
27,006 |
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$ |
26,427 |
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$ |
72,507 |
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$ |
64,398 |
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Weighted-average shares for basic EPS |
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30,314,439 |
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30,474,391 |
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30,289,068 |
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30,222,978 |
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Basic EPS (1) |
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$ |
0.89 |
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$ |
0.87 |
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$ |
2.39 |
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$ |
2.13 |
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Effect of dilutive stock options and unvested performance stock units |
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82,323 |
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77,805 |
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80,470 |
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75,575 |
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Diluted EPS |
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Income allocated to common shares |
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$ |
27,006 |
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$ |
26,427 |
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$ |
72,507 |
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$ |
64,398 |
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Weighted-average shares for diluted EPS |
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30,396,762 |
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30,552,196 |
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30,369,538 |
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30,298,553 |
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Diluted EPS (1) |
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$ |
0.89 |
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$ |
0.86 |
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$ |
2.39 |
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$ |
2.13 |
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(1)Per share amounts may not be able to be recalculated using net income and weighted-average shares presented above due to rounding.
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