The Company calculates earnings per share in accordance with ASC 260, Earnings Per Share. Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted average common shares outstanding during the period. Diluted earnings per share takes into account the potential dilution that could occur if securities, including stock options and RSUs or other contracts to issue common stock were exercised and converted into common stock. Stock options are dilutive if their exercise prices are less than the current stock price. RSUs are dilutive because they represent grants over vesting periods which do not require employees to pay exercise prices. The dilution shown in the tables below includes the potential dilution from both stock options and RSUs.

The following tables show the Company’s earnings per share for the periods presented:



	For the three months ended
	September 30, 2024
	Income		Shares		Per share
	(numerator)		(denominator)		amount
		(Dollars in thousands except share and per share data)
Basic earnings per share
Net earnings available to common shareholders	$	51,517		48,759,369	$	1.06
Effect of dilutive securities
Common stock options and RSUs		—		718,867		(0.02)
Diluted earnings per share
Net earnings available to common shareholders	$	51,517		49,478,236	$	1.04

Stock options for 622,677 shares, exercisable at prices between $6.87 and $35.17 per share, were outstanding at September 30, 2024, and included in the diluted earnings per share computation because their exercise price per share was less than the average market price for the three month period ended September 30, 2024. Stock options for 45,616 shares were anti-dilutive and not included in the earnings per share calculation.



	For the nine months ended
	September 30, 2024
	Income		Shares		Per share
	(numerator)		(denominator)		amount
		(Dollars in thousands except share and per share data)
Basic earnings per share
Net earnings available to common shareholders	$	161,632		50,807,021	$	3.18
Effect of dilutive securities
Common stock options and RSUs		—		554,083		(0.03)
Diluted earnings per share
Net earnings available to common shareholders	$	161,632		51,361,104	$	3.15

Stock options for 565,104 shares, exercisable at prices between $6.87 and $30.32 per share, were outstanding at September 30, 2024, and included in the diluted earnings per share computation because their exercise price per share was less than the average market price for the nine-month period ended September 30, 2024. Stock options for 103,189 shares were anti-dilutive and not included in the earnings per share calculation.



	For the three months ended
	September 30, 2023
	Income		Shares		Per share
	(numerator)		(denominator)		amount
		(Dollars in thousands except share and per share data)
Basic earnings per share
Net earnings available to common shareholders	$	50,137		54,175,184	$	0.93
Effect of dilutive securities
Common stock options and RSUs		—		563,426		(0.01)
Diluted earnings per share
Net earnings available to common shareholders	$	50,137		54,738,610	$	0.92

Stock options for 465,104 shares, exercisable at prices between $6.87 and $18.81 per share, were outstanding at September 30, 2023, and included in the diluted earnings per share computation because their exercise price per share was less than the average market price for the three month period ended September 30, 2023. Stock options for 157,573 shares were anti-dilutive and not included in the earnings per share calculation.

	For the nine months ended
	September 30, 2023
	Income		Shares		Per share
	(numerator)		(denominator)		amount
		(Dollars in thousands except share and per share data)
Basic earnings per share
Net earnings available to common shareholders	$	148,268		54,828,547	$	2.70
Effect of dilutive securities
Common stock options and RSUs		—		507,807		(0.02)
Diluted earnings per share
Net earnings available to common shareholders	$	148,268		55,336,354	$	2.68

Stock options for 465,104 shares, exercisable at prices between $6.87 and $18.81 per share, were outstanding at September 30, 2023, and included in the diluted earnings per share computation because their exercise price per share was less than the average market price for the nine-month period ended September 30, 2023. Stock options for 157,573 shares were anti-dilutive and not included in the earnings per share calculation.