Earnings Per Share

3 Months Ended

Mar. 31, 2023

Basic earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period presented. Diluted earnings per share is computed by including the net increase in shares as if dilutive outstanding restricted stock units were vested and stock options were exercised, using the treasury stock method.

Basic and diluted earnings per share has been computed based on the following:


	Three Months ended
(Dollars in thousands, except per share data)	March 31, 2023		March 31, 2022
Net income available to common stockholders, basic and diluted	$	61,211	67,795
Average outstanding shares - basic	110,824,648		110,724,655
Add: dilutive restricted stock units and stock options	57,060		75,346
Average outstanding shares - diluted	110,881,708		110,800,001
Basic earnings per share	$	0.55	0.61
Diluted earnings per share	$	0.55	0.61
Restricted stock units and stock options excluded from the diluted average outstanding share calculation 1	205,974		4,934

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1 Anti-dilution occurs when the unrecognized compensation cost per share of a restricted stock unit or the exercise price of a stock option exceeds the market price of the Company’s stock.