EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2022

Diluted earnings per common share is computed using the weighted-average number of common shares determined for the basic earnings per common share computation plus the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock using the treasury stock method. Outstanding stock options, PSUs and PSAs issued by the Company represent the only dilutive effect reflected in diluted weighted average shares. Common shares issuable under restricted stock awards are considered outstanding at the date of grant and are accounted for as participating securities and included in basic and diluted weighted average common shares outstanding.


	For the Years Ended December 31,
	2022				2021				2020
	Amount		Per Share Amount		Amount		Per Share Amount		Amount		Per Share Amount
	(Amounts in thousands, except per share data)
Net income attributable to shareholders	$	51,432			$	81,553			$	45,534
Basic:
Weighted average shares outstanding	34,738		$	1.48	28,660		$	2.85	28,957		$	1.57
Diluted:
Add incremental shares for:
Dilutive effect of stock option exercises, PSUs and PSAs	269				212				185
Total	35,007		$	1.47	28,872		$	2.82	29,142		$	1.56

Stock options for 55,389 shares were not considered in computing diluted earnings per share as of December 31, 2020, respectively, because they were antidilutive. There were no antidilutive shares as of December 31, 2022 and 2021.

The basic and diluted weighted average number of shares issued and earnings per share have been retrospectively adjusted to reflect the equivalent number of shares issued to holders of Allegiance common stock in the Merger.