Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.20.2
EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

13. EARNINGS PER SHARE

Basic EPS is computed by dividing net income to common shareholders, after deducting dividends on preferred stock by the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common shares outstanding during the period, including the effect of dilutive potential common shares outstanding attributable to stock awards.

The following table presents EPS from continuing operations, discontinued operations and total net income available to common shareholders for the three and nine months ended September 30, 2020 and 2019 (dollars in thousands except per share data):

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

2020

2019

2020

2019

Net Income:

Income from continuing operations

$

61,000

$

53,196

$

98,798

$

137,820

Income (loss) from discontinued operations

 

 

42

 

 

(128)

Net Income

61,000

53,238

98,798

137,692

Preferred Stock Dividends

2,691

2,691

Net income available to common shareholders

$

58,309

$

53,238

$

96,107

$

137,692

Weighted average shares outstanding, basic

 

78,714

 

81,769

 

78,905

 

80,121

Dilutive effect of stock awards and warrants

 

11

 

64

 

16

 

63

Weighted average shares outstanding, diluted

 

78,725

 

81,833

 

78,921

 

80,184

Basic EPS:

 

 

 

 

EPS from continuing operations

$

0.74

$

0.65

$

1.22

$

1.72

EPS from discontinued operations

 

 

 

 

EPS available to common shareholders

$

0.74

$

0.65

$

1.22

$

1.72

Diluted EPS:

 

 

 

 

EPS from continuing operations

$

0.74

$

0.65

$

1.22

$

1.72

EPS from discontinued operations

 

 

 

 

EPS available to common shareholders

$

0.74

$

0.65

$

1.22

$

1.72