| 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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Six Months Ended |
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June 30, |
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June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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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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$ |
14,451 |
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$ |
20,620 |
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$ |
29,615 |
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$ |
42,612 |
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Less: income allocated to unvested restricted stock |
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129 |
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128 |
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222 |
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|
268 |
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Income allocated to common shares |
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$ |
14,322 |
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$ |
20,492 |
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$ |
29,393 |
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$ |
42,344 |
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Weighted-average shares for basic EPS |
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30,055,913 |
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30,324,264 |
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30,089,341 |
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30,320,281 |
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Basic EPS (1) |
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$ |
0.48 |
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$ |
0.68 |
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$ |
0.98 |
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$ |
1.40 |
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Effect of dilutive stock options and unvested performance stock units |
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77,733 |
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62,777 |
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76,840 |
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62,945 |
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Diluted EPS |
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Income allocated to common shares |
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$ |
14,322 |
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$ |
20,492 |
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$ |
29,393 |
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$ |
42,344 |
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Weighted-average shares for diluted EPS |
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30,133,646 |
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30,387,041 |
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30,166,181 |
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30,383,226 |
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Diluted EPS (1) |
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$ |
0.48 |
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$ |
0.67 |
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$ |
0.97 |
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$ |
1.39 |
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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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