| 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:
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Weighted- |
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Net |
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Average |
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Per |
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Income |
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Shares |
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Share |
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(Numerator) |
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(Denominator) |
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Amount (1) |
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(dollars in thousands except share and per share data) |
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Year Ended December 31, 2023 |
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Basic EPS |
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Net income |
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$ |
80,041 |
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30,269,740 |
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$ |
2.64 |
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Less: income allocated to unvested restricted stock |
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|
505 |
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30,269,740 |
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0.02 |
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Basic EPS |
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$ |
79,536 |
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30,269,740 |
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$ |
2.63 |
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Effect of dilutive securities - options and unvested restricted stock |
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— |
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60,518 |
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— |
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Diluted EPS |
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Net income |
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$ |
80,041 |
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30,330,258 |
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$ |
2.64 |
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Less: income allocated to unvested restricted stock |
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505 |
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30,330,258 |
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0.02 |
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Diluted EPS |
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$ |
79,536 |
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30,330,258 |
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$ |
2.62 |
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Year Ended December 31, 2022 |
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Basic EPS |
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Net income |
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$ |
101,394 |
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30,299,148 |
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$ |
3.35 |
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Less: income allocated to unvested restricted stock |
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|
558 |
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30,299,148 |
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0.02 |
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Basic EPS |
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$ |
100,836 |
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30,299,148 |
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$ |
3.33 |
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Effect of dilutive securities - options and unvested restricted stock |
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— |
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92,909 |
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— |
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Diluted EPS |
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Net income |
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$ |
101,394 |
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30,392,057 |
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$ |
3.34 |
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Less: income allocated to unvested restricted stock |
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|
558 |
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30,392,057 |
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0.02 |
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Diluted EPS |
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$ |
100,836 |
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30,392,057 |
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$ |
3.32 |
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Year Ended December 31, 2021 |
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Basic EPS |
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Net income |
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$ |
98,677 |
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30,393,559 |
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$ |
3.25 |
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Less: income allocated to unvested restricted stock |
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|
671 |
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30,393,559 |
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0.02 |
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Basic EPS |
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$ |
98,006 |
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30,393,559 |
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$ |
3.22 |
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Effect of dilutive securities - options and unvested restricted stock |
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— |
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78,188 |
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— |
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Diluted EPS |
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Net income |
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$ |
98,677 |
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|
30,471,747 |
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$ |
3.24 |
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Less: income allocated to unvested restricted stock |
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|
671 |
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30,471,747 |
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0.02 |
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Diluted EPS |
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$ |
98,006 |
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30,471,747 |
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$ |
3.22 |
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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.
There were no anti-dilutive options outstanding for the years ended December 31, 2023, 2022 and 2021.
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