Earnings Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share

Earnings Per Share

16) Earnings Per Share

Basic earnings per common share is computed by dividing net income, less dividends and discount accretion on preferred stock, by the weighted average common shares outstanding. Diluted earnings per share reflect potential dilution from outstanding stock options using the treasury stock method. There were 1,325,948 stock options for the year ended December 31, 2022, considered to be antidilutive and excluded from the computation of diluted earnings per share.  There were 1,058,250 stock options for the year ended December 31, 2021, considered to be antidilutive and excluded from the computation of diluted earnings per share.  There were 1,524,757 stock options for the year ended December 31, 2020, considered to be antidilutive and excluded from the computation of diluted earnings per share. A reconciliation of these factors used in computing basic and diluted earnings per common share is as follows:

	Year Ended December 31,
	2022		2021		2020
	(Dollars in thousands, except per share amounts)
Net income	$	66,555	$	47,700	$	$ 35,299
Weighted average common shares outstanding for basic
earnings per common share		60,602,962		60,133,821		59,478,343
Dilutive potential common shares		487,328		555,241		690,796
Shares used in computing diluted earnings per common share		61,090,290		60,689,062		60,169,139
Basic earnings per share	$	1.10	$	0.79	$	0.59
Diluted earnings per share	$	1.09	$	0.79	$	0.59