| 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
Net |
|
|
Average |
|
|
Per |
|
|
|
Income |
|
|
Shares |
|
|
Share |
|
|
|
(Numerator) |
|
|
(Denominator) |
|
|
Amount (1) |
|
|
|
(dollars in thousands except share and per share data) |
|
Year Ended December 31, 2024 |
|
|
|
|
|
|
|
|
|
Basic EPS |
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
62,201 |
|
|
|
30,019,815 |
|
|
$ |
2.07 |
|
Less: income allocated to unvested restricted stock |
|
|
504 |
|
|
|
30,019,815 |
|
|
|
0.02 |
|
Basic EPS |
|
$ |
61,697 |
|
|
|
30,019,815 |
|
|
$ |
2.06 |
|
Effect of dilutive securities - options and unvested restricted stock |
|
|
— |
|
|
|
82,521 |
|
|
|
— |
|
Diluted EPS |
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
62,201 |
|
|
|
30,102,336 |
|
|
$ |
2.07 |
|
Less: income allocated to unvested restricted stock |
|
|
504 |
|
|
|
30,102,336 |
|
|
|
0.02 |
|
Diluted EPS |
|
$ |
61,697 |
|
|
|
30,102,336 |
|
|
$ |
2.05 |
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2023 |
|
|
|
|
|
|
|
|
|
Basic EPS |
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
80,041 |
|
|
|
30,269,740 |
|
|
$ |
2.64 |
|
Less: income allocated to unvested restricted stock |
|
|
505 |
|
|
|
30,269,740 |
|
|
|
0.02 |
|
Basic EPS |
|
$ |
79,536 |
|
|
|
30,269,740 |
|
|
$ |
2.63 |
|
Effect of dilutive securities - options and unvested restricted stock |
|
|
— |
|
|
|
60,518 |
|
|
|
— |
|
Diluted EPS |
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
80,041 |
|
|
|
30,330,258 |
|
|
$ |
2.64 |
|
Less: income allocated to unvested restricted stock |
|
|
505 |
|
|
|
30,330,258 |
|
|
|
0.02 |
|
Diluted EPS |
|
$ |
79,536 |
|
|
|
30,330,258 |
|
|
$ |
2.62 |
|
|
|
|
|
|
|
|
|
|
|
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 |
|
(1)Per share amounts may not be able to be recalculated using net income and weighted-average shares presented above due to rounding.
|