Annual report pursuant to Section 13 and 15(d)

Earnings per Share

v3.22.4
Earnings per Share
12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings per Share

Note 16 — Earnings per Share

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

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Net

 

 

Average

 

 

Per

 

 

 

Income

 

 

Shares

 

 

Share

 

 

 

(Numerator)

 

 

(Denominator)

 

 

Amount (1)

 

 

 

(dollars in thousands except share and per share data)

 

Year Ended December 31, 2022

 

 

 

 

 

 

 

 

 

Basic EPS

 

 

 

 

 

 

 

 

 

Net income

 

$

101,394

 

 

 

30,299,148

 

 

$

3.35

 

Less: income allocated to unvested restricted stock

 

 

558

 

 

 

30,299,148

 

 

 

0.02

 

Basic EPS

 

$

100,836

 

 

 

30,299,148

 

 

$

3.33

 

Effect of dilutive securities - options and unvested restricted stock

 

 

 

 

 

92,909

 

 

 

 

Diluted EPS

 

 

 

 

 

 

 

 

 

Net income

 

$

101,394

 

 

 

30,392,057

 

 

$

3.34

 

Less: income allocated to unvested restricted stock

 

 

558

 

 

 

30,392,057

 

 

 

0.02

 

Diluted EPS

 

$

100,836

 

 

 

30,392,057

 

 

$

3.32

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2021

 

 

 

 

 

 

 

 

 

Basic EPS

 

 

 

 

 

 

 

 

 

Net income

 

$

98,677

 

 

 

30,393,559

 

 

$

3.25

 

Less: income allocated to unvested restricted stock

 

 

671

 

 

 

30,393,559

 

 

 

0.02

 

Basic EPS

 

$

98,006

 

 

 

30,393,559

 

 

$

3.22

 

Effect of dilutive securities - options and unvested restricted stock

 

 

 

 

 

78,188

 

 

 

 

Diluted EPS

 

 

 

 

 

 

 

 

 

Net income

 

$

98,677

 

 

 

30,471,747

 

 

$

3.24

 

Less: income allocated to unvested restricted stock

 

 

671

 

 

 

30,471,747

 

 

 

0.02

 

Diluted EPS

 

$

98,006

 

 

 

30,471,747

 

 

$

3.22

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2020

 

 

 

 

 

 

 

 

 

Basic EPS

 

 

 

 

 

 

 

 

 

Net income

 

$

42,196

 

 

 

30,280,415

 

 

$

1.39

 

Less: income allocated to unvested restricted stock

 

 

532

 

 

 

30,280,415

 

 

 

0.02

 

Basic EPS

 

$

41,664

 

 

 

30,280,415

 

 

$

1.38

 

Effect of dilutive securities - options and unvested restricted stock

 

 

 

 

 

 

 

 

 

Diluted EPS

 

 

 

 

 

 

 

 

 

Net income

 

$

42,196

 

 

 

30,280,415

 

 

$

1.39

 

Less: income allocated to unvested restricted stock

 

 

532

 

 

 

30,280,415

 

 

 

0.02

 

Diluted EPS

 

$

41,664

 

 

 

30,280,415

 

 

$

1.38

 

 

(1)
Per share amounts may not be able to be recalculated using net income and weighted-average shares presented above due to rounding.

There were no anti-dilutive options outstanding for the years ended December 31, 2022, 2021 and 2020.