| 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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2023 |
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2022 |
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2023 |
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2022 |
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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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$ |
20,620 |
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$ |
25,050 |
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$ |
42,612 |
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$ |
45,745 |
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Less: income allocated to unvested restricted stock |
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128 |
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150 |
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268 |
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261 |
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Income allocated to common shares |
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$ |
20,492 |
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$ |
24,900 |
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$ |
42,344 |
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$ |
45,484 |
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Weighted-average shares for basic EPS |
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30,324,264 |
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30,296,897 |
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30,320,281 |
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30,271,761 |
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Basic EPS (1) |
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$ |
0.68 |
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$ |
0.82 |
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$ |
1.40 |
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$ |
1.50 |
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Effect of dilutive stock options and unvested performance stock units |
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62,777 |
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115,451 |
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62,945 |
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119,512 |
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Diluted EPS |
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Income allocated to common shares |
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$ |
20,492 |
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$ |
24,900 |
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$ |
42,344 |
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$ |
45,484 |
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Weighted-average shares for diluted EPS |
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30,387,041 |
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30,412,348 |
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30,383,226 |
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30,391,273 |
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Diluted EPS (1) |
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$ |
0.67 |
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$ |
0.82 |
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$ |
1.39 |
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$ |
1.50 |
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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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