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Net Income Per Common Share
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Net Income Per Common Share

(9) NET INCOME PER COMMON SHARE

Basic and diluted net income per common share are calculated as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

(Dollars in thousands, except per share data)

 

(Numerator)

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common stockholders

 

$

50,988

 

 

$

55,352

 

 

$

163,531

 

 

$

135,974

 

(Denominator)

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding for basic earnings per common share

 

 

32,937,149

 

 

 

32,825,931

 

 

 

32,916,996

 

 

 

32,748,116

 

Dilutive effect of stock compensation

 

 

602,240

 

 

 

710,627

 

 

 

576,019

 

 

 

681,045

 

Weighted-average shares outstanding for diluted earnings per common share

 

 

33,539,389

 

 

 

33,536,558

 

 

 

33,493,015

 

 

 

33,429,161

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

1.55

 

 

$

1.69

 

 

$

4.97

 

 

$

4.15

 

Diluted earnings per share

 

$

1.52

 

 

$

1.65

 

 

$

4.88

 

 

$

4.07

 

 

The following table shows the number of options and RSUs that were excluded from the computation of diluted net income per common share for each period because they were anti-dilutive for the period:

 

 

Shares

 

Three Months Ended September 30, 2023

 

 

263,176

 

Three Months Ended September 30, 2022

 

 

184,707

 

Nine Months Ended September 30, 2023

 

 

278,828

 

Nine Months Ended September 30, 2022

 

 

149,669