Earnings Per Share

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Earnings Per Share

3.     Earnings Per Share

Earnings per common share have been computed based on the following:

	For the three months ended						For the six months ended
	June 30,						June 30,
	2023						2023
	(As Restated)			2022			(As Restated)			2022
	(Dollars in thousands, except per share data)
Net income, as reported	$	8,686		$	25,035		$	12,730		$	43,254
Divided by:
Weighted average common shares outstanding (1)		30,090			30,937			30,177			31,095
Basic earnings per common share	$	0.29		$	0.81		$	0.42		$	1.39
Diluted earnings per common share	$	0.29		$	0.81		$	0.42		$	1.39
Dividend Payout ratio		75.9	%		27.2	%		104.8	%		31.7	%

(1) For the three and six months ended June 30, 2023, and 2022, there were no common stock equivalents that were anti-dilutive.