Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.22.2.2
Earnings Per Share
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share 12. Earnings Per Share

The following table presents the calculation of the Company’s basic and diluted earnings per share (“EPS”):

For the Three Months Ended

For the Nine Months Ended

September 30,

September 30,

(In thousands, except per share amounts)

2022

2021

2022

2021

Basic EPS:

Numerator:

Net income attributable to shareholders

$

22,964

$

23,127

$

56,736

$

45,602

Denominator:

Weighted average shares outstanding

19,101

21,709

20,029

20,660

Basic EPS

$

1.20

$

1.07

$

2.83

$

2.21

Diluted EPS

Numerator:

Net income attributable to shareholders

$

22,964

$

23,127

$

56,736

$

45,602

Denominator:

Basic - Weighted average shares outstanding

19,101

21,709

20,029

20,660

Dilutive effect of restricted stock rewards

131

18

162

-

Diluted weighted average number of common shares
outstanding

19,232

21,727

20,191

20,660

Diluted EPS

$

1.19

$

1.06

$

2.81

$

2.21

During the three and nine months ended September 30, 2022, 130,776 and 162,579, respectively, of weighted average shares of unvested restricted stock awards outstanding were included in the computation of diluted earnings per share as the shares were dilutive. During the three months ended September 30, 2021, 17,693 of weighted average shares of unvested restricted stock awards outstanding were included in the computation of diluted earnings per share as the shares were dilutive. During the nine months ended September 30, 2021, 220,963 shares of unvested restricted stock awards outstanding were excluded from the computation of diluted earnings per share as the shares were antidilutive.