Earnings per Share

9 Months Ended

Sep. 30, 2022

Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share. For additional information on the calculation of basic and diluted earnings per share, see Note 1, "Summary of Significant Accounting Policies - Earnings per Share" of the Corporation's Annual Report on Form 10-K for the year ended December 31, 2021.


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars and shares in thousands, except per share data)	2022		2021		2022		2021
Numerator:
Net income	$	20,801	$	20,911	$	54,284	$	74,389
Net income allocated to unvested restricted stock awards	—		—		—		(28)
Net income allocated to common shares	$	20,801	$	20,911	$	54,284	$	74,361
Denominator:
Weighted average shares outstanding	29,291		29,420		29,440		29,380
Average unvested restricted stock awards	—		—		—		(10)
Denominator for basic earnings per share—weighted-average shares outstanding	29,291		29,420		29,440		29,370
Effect of dilutive securities—employee stock options and restricted stock units	141		142		148		143
Denominator for diluted earnings per share—adjusted weighted-average shares outstanding	29,432		29,562		29,588		29,513
Basic earnings per share	$	0.71	$	0.71	$	1.85	$	2.53
Diluted earnings per share	$	0.71	$	0.71	$	1.84	$	2.52
Average antidilutive options and restricted stock units excluded from computation of diluted earnings per share	250		286		250		289