Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2023

The following table shows computation of basic and diluted earnings per share.


	Three Months Ended
	March 31
		2023		2022
Basic earnings per share
Net income		$	18,228	$	23,563
Weighted average common shares outstanding		43,583,554		43,554,713
Basic earnings per share		$	0.42	$	0.54

Diluted earnings per share
Net income		$	18,228	$	23,563
Weighted average common shares outstanding		43,583,554		43,554,713
Effect of dilutive securities:
Restricted stock		142,318		129,793
Stock options		18,849		50,050
Weighted average common shares outstanding		43,744,721		43,734,556
Diluted earnings per share		$	0.42	$	0.54

The following tables present the revisions to the line items of our previously issued financial statements to reflect the correction of the errors:


Consolidated Statements of Income
Three Months Ended March 31, 2022

	As Reported		Indirect Loan Dealer Reserve Adjustment		As Revised
Interest income
Loans receivable	$	37,879	$	(1,340)	$	36,539
Total interest income	52,082		(1,340)		50,742
Net interest income	48,171		(1,340)		46,831
Net interest income after credit loss expense (recovery)	49,557		(1,340)		48,217
Non–interest expense
Loan expense	2,545		(1,340)		1,205
Total non–interest expense	36,610		(1,340)		35,270
Net income	23,563		—		23,563


Consolidated Statements of Cash Flows
Three Months Ended March 31, 2022

	As Reported		Indirect Loan Dealer Reserve Adjustment		Transfer of AFS Securities to HTM Securities		As Revised
Operating Activities
Net change in other assets	$	4,730	$	1,037	$	—	$	5,767
Net cash provided by operating activities	27,055		1,037		—		28,092
Investing activities
Net change in loans	(67,592)		(1,037)		—		(68,629)
Net cash used in investing activities	(555,959)		(1,037)		—		(556,996)
Net Change in Cash and Cash Equivalents	120,954		—		—		120,954
Additional Supplemental Information
Transfer of available for sale securities to held to maturity securities	—		—		120,881		120,881