Quarterly report [Sections 13 or 15(d)]

Earnings per Share (Tables)

v3.25.1
Earnings per Share (Tables)
 3 Months Ended
Mar. 31, 2025
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,

 

 

 

2025

 

 

2024

 

 

 

(dollars in thousands, except per share and unit amounts)

 

Basic EPS

 

 

 

 

 

 

Net income

 

$

17,672

 

 

$

15,164

 

Less: income allocated to unvested restricted stock

 

 

148

 

 

 

92

 

Income allocated to common shares

 

$

17,524

 

 

$

15,072

 

Weighted-average shares for basic EPS

 

 

29,937,660

 

 

 

30,119,646

 

Basic EPS (1)

 

$

0.59

 

 

$

0.50

 

 

 

 

 

 

 

 

Effect of dilutive PSUs

 

 

120,588

 

 

 

—

 

 

 

 

 

 

 

 

Diluted EPS

 

 

 

 

 

 

Income allocated to common shares

 

$

17,524

 

 

$

15,072

 

Weighted-average shares for diluted EPS

 

 

30,058,248

 

 

 

30,119,646

 

Diluted EPS (1)

 

$

0.58

 

 

$

0.50

 

 

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