Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.23.3
EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

11. 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, 2023 and 2022 (dollars in thousands except per share data):

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

2023

2022

2023

2022

Net Income

$

54,017

$

58,070

$

144,911

$

163,986

Less: Preferred Stock Dividends

2,967

2,967

8,901

8,901

Net income available to common shareholders

$

51,050

$

55,103

$

136,010

$

155,085

Weighted average shares outstanding, basic

 

74,999

 

74,704

 

74,943

 

75,029

Dilutive effect of stock awards

 

 

1

 

1

 

5

Weighted average shares outstanding, diluted

 

74,999

 

74,705

 

74,944

 

75,034

Earnings per common share, basic

$

0.68

$

0.74

$

1.81

$

2.07

Earnings per common share, diluted

$

0.68

$

0.74

$

1.81

$

2.07