EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

5. EARNINGS PER SHARE

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


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars and shares in thousands, except per share data)	2022		2021		2022		2021
Numerator:
Net income attributable to WSFS	$	73,382	$	54,406	$	137,926	$	215,155
Denominator:
Weighted average basic shares	63,048		47,541		64,064		47,527
Dilutive potential common shares	180		130		219		150
Weighted average fully diluted shares	63,228		47,671		$	64,283	$	47,677
Earnings per share:
Basic	$	1.16	$	1.14	$	2.15	$	4.53
Diluted	$	1.16	$	1.14	$	2.15	$	4.51
Outstanding common stock equivalents having no dilutive effect	2		5		7		—

Basic earnings per share is calculated by dividing Net income attributable to WSFS by the weighted-average basic shares outstanding. Diluted earnings per share is calculated by dividing Net income attributable to WSFS by the weighted-average fully diluted shares outstanding, using the treasury stock method. Fully diluted shares include the adjustment for the dilutive effect of common stock awards, which include outstanding stock options and unvested restricted stock units under the 2013 Incentive Plan and the 2018 Incentive Plan.