| 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 |
|
|
Six Months Ended |
|
|
|
June 30, |
|
|
June 30, |
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
|
(dollars in thousands, except per share and unit amounts) |
|
Basic EPS |
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
15,117 |
|
|
$ |
14,451 |
|
|
$ |
32,789 |
|
|
$ |
29,615 |
|
Less: income allocated to unvested restricted stock |
|
|
122 |
|
|
|
129 |
|
|
|
272 |
|
|
|
222 |
|
Income allocated to common shares |
|
$ |
14,995 |
|
|
$ |
14,322 |
|
|
$ |
32,517 |
|
|
$ |
29,393 |
|
Weighted-average shares for basic EPS |
|
|
29,948,836 |
|
|
|
30,055,913 |
|
|
|
29,943,279 |
|
|
|
30,089,341 |
|
Basic EPS (1) |
|
$ |
0.50 |
|
|
$ |
0.48 |
|
|
$ |
1.09 |
|
|
$ |
0.98 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of dilutive PSUs |
|
|
105,620 |
|
|
|
77,733 |
|
|
|
105,425 |
|
|
|
76,840 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted EPS |
|
|
|
|
|
|
|
|
|
|
|
|
Income allocated to common shares |
|
$ |
14,995 |
|
|
$ |
14,322 |
|
|
$ |
32,517 |
|
|
$ |
29,393 |
|
Weighted-average shares for diluted EPS |
|
|
30,054,456 |
|
|
|
30,133,646 |
|
|
|
30,048,704 |
|
|
|
30,166,181 |
|
Diluted EPS (1) |
|
$ |
0.50 |
|
|
$ |
0.48 |
|
|
$ |
1.08 |
|
|
$ |
0.97 |
|
(1)Per share amounts may not be able to be recalculated using net income and weighted-average shares presented above due to rounding.
|