Earnings per Common Share

3 Months Ended

Mar. 31, 2025

The following table presents the calculation of EPS:


(Dollars and shares in thousands, except per share amounts)

Three months ended March 31,	2025	2024
Earnings for basic and diluted EPS calculations:
Net income	$12,179	$10,936
Less: dividends and undistributed earnings allocated to participating securities	—	(12)
Net income available to common shareholders	$12,179	$10,924

Shares for basic and diluted EPS calculations:




Weighted average common shares outstanding for basic EPS	19,276	17,033
Dilutive effect of common stock equivalents	94	41
Weighted average common and potential common shares outstanding for diluted EPS	19,370	17,074

EPS:
Basic earnings per common share	$0.63	$0.64
Diluted earnings per common share	$0.63	$0.64

Awards excluded from the calculation of diluted EPS:
Weighted average anti-dilutive common stock equivalents (1)	388	464

(1)For the three months ended 2025 and 2024, weighted average anti-dilutive common stock equivalents represent share-based compensation awards not included in the calculation of common shares outstanding for purposes of calculating diluted EPS as the grant prices were greater than the average market price of Bancorp’s common stock, and therefore were anti-dilutive.

WASHINGTON TRUST BANCORP INC 10-Q