| 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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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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$ |
14,892 |
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$ |
18,796 |
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$ |
44,506 |
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$ |
61,408 |
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Less: income allocated to unvested restricted stock |
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131 |
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117 |
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|
352 |
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|
381 |
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Income allocated to common shares |
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$ |
14,761 |
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$ |
18,679 |
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$ |
44,154 |
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$ |
61,027 |
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Weighted-average shares for basic EPS |
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29,968,004 |
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30,251,961 |
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30,048,748 |
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30,296,991 |
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Basic EPS (1) |
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$ |
0.49 |
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$ |
0.62 |
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$ |
1.47 |
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$ |
2.01 |
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Effect of dilutive stock options and unvested performance stock units |
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65,675 |
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40,911 |
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68,521 |
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41,687 |
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Diluted EPS |
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Income allocated to common shares |
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$ |
14,761 |
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$ |
18,679 |
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$ |
44,154 |
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$ |
61,027 |
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Weighted-average shares for diluted EPS |
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30,033,679 |
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30,292,872 |
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30,117,269 |
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30,338,678 |
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Diluted EPS (1) |
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$ |
0.49 |
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$ |
0.62 |
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$ |
1.47 |
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$ |
2.01 |
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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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