Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.21.2
EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

12. EARNINGS PER SHARE

Basic EPS is computed by dividing net income available to common shareholders 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 basic and diluted EPS calculations for the three and nine months ended September 30, 2021 and 2020 (dollars in thousands except per share data):

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

2021

2020

2021

2020

Net Income:

Net Income

$

74,565

$

61,000

$

216,138

$

98,798

Less: Preferred Stock Dividends

2,967

2,691

8,901

2,691

Net income available to common shareholders

$

71,598

$

58,309

$

207,237

$

96,107

Weighted average shares outstanding, basic

 

76,309

 

78,714

 

77,989

 

78,905

Dilutive effect of stock awards

 

14

 

11

 

19

 

16

Weighted average shares outstanding, diluted

 

76,323

 

78,725

 

78,008

 

78,921

Earnings per common share, basic

$

0.94

$

0.74

$

2.66

$

1.22

Earnings per common share, diluted

$

0.94

$

0.74

$

2.66

$

1.22