Earnings Per Share

9 Months Ended

Sep. 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 nine months ended
	September 30,						September 30,
	2023			2022			2023			2022
	(As Restated)						(As Restated)
	(Dollars in thousands, except per share data)
Net income, as reported	$	7,835		$	23,442		$	20,565		$	66,696
Divided by:
Total weighted average common shares outstanding and common stock equivalents (1)		29,703			30,695			30,017			30,960
Basic earnings per common share	$	0.26		$	0.76		$	0.69		$	2.15
Diluted earnings per common share	$	0.26		$	0.76		$	0.69		$	2.15
Dividend Payout ratio		84.6	%		28.9	%		95.7	%		30.7	%

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