The Company calculates earnings per share in accordance with ASC 260, Earnings Per Share. Basic earnings per share is computed by dividing income available to common shareholders by the weighted average common shares outstanding during the period. Diluted earnings per share is computed by dividing income available to common shareholders by the weighted average common shares outstanding during the period, assuming all potentially dilutive common shares were issued.

Diluted earnings per share considers the potential dilution that could occur if securities, including stock options and RSUs or other contracts to issue common stock were exercised and converted into common stock. Stock options are dilutive if their exercise prices are less than the current stock price. RSUs are dilutive because they represent grants over vesting periods which do not require employees to pay exercise prices. The dilution shown in the tables below includes the potential dilution from both stock options and RSUs. The weighted-average computation of the dilutive effect of potentially issuable shares of Common stock under the treasury stock method excludes the effect of securities that would be anti-dilutive.

The calculation of weighted-average common shares outstanding during each respective period includes activity related to share repurchases made under the Company’s share repurchase programs, as discussed further in “Note 8. Shareholders’ Equity.”


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(Dollars in thousands except share and per share data)
Net income	$	60,656	$	59,821	$	120,725	$	116,994

Weighted average shares - basic	41,461,889		46,598,535		41,795,740		46,904,592
Effect of dilutive securities:
Common stock options and RSUs	332,271		584,235		384,776		660,988
Weighted average shares - diluted	41,794,160		47,182,770		42,180,516		47,565,580

Basic and diluted earnings per share:
Net income per share - basic	$	1.46	$	1.28	$	2.89	$	2.49
Effect of dilutive securities:
Common stock options and RSUs	(0.01)		(0.01)		(0.03)		(0.03)
Net income per share - diluted	$	1.45	$	1.27	$	2.86	$	2.46

Included in the computation of diluted shares:
Stock options with exercise price below average market price
Share count	368,293		622,677		368,293		622,677
Minimum exercise price	$	8.57	$	6.87	$	8.57	$	6.87
Maximum exercise price	$	43.89	$	35.17	$	43.89	$	35.17

Excluded from the computation of diluted shares: Antidilutive securities
Outstanding stock-based compensation awards, shares	32,624		78,240		32,624		78,240