Earnings per Share

12 Months Ended

Dec. 31, 2023

The following table sets forth the computation of basic and diluted earnings per share:


	For the Years Ended December 31,
(Dollars and shares in thousands, except per share data)	2023		2022		2021
Numerator:
Net income	$	71,104	$	78,120	$	91,801
Net income allocated to unvested restricted stock awards	—		—		(26)
Net income allocated to common shares	$	71,104	$	78,120	$	91,775
Denominator:
Weighted average shares outstanding	29,433		29,393		29,403
Average unvested restricted stock awards	—		—		(8)
Denominator for basic earnings per share—weighted-average shares outstanding	29,433		29,393		29,395
Effect of dilutive securities—stock options and restricted stock units	100		158		159
Denominator for diluted earnings per share—adjusted weighted-average shares outstanding	29,533		29,551		29,554
Basic earnings per share	$	2.42	$	2.66	$	3.12
Diluted earnings per share	$	2.41	$	2.64	$	3.11
Average anti-dilutive options and restricted stock units excluded from computation of diluted earnings per share	293		245		277