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Net income per common share | 3 Months Ended
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Mar. 31, 2021
Earnings Per Share |
Net Income (Loss) Per Common Share | Note 25 – Net income per common share The following table sets forth the computation of net income per common share (“EPS”), basic and diluted, for the quarters ended March 31, 2021 and 2020:
|  | Quarters ended March 31,
(In thousands, except per share information) |  | 2021 |  | 2020
Net income | $ | 262,632 | $ | 34,302
Preferred stock dividends |  | (353) |  | (700)
Net income applicable to common stock | $ | 262,279 | $ | 33,602
Average common shares outstanding |  | 83,899,769 |  | 90,788,557
Average potential dilutive common shares |  | 152,166 |  | 104,404
Average common shares outstanding - assuming dilution |  | 84,051,935 |  | 90,892,961
Basic EPS | $ | 3.13 | $ | 0.37
Diluted EPS | $ | 3.12 | $ | 0.37
For the quarters ended March 31, 2021 and 2020, the Corporation calculated the impact of potential dilutive common shares under the treasury stock method, consistent with the method used for the preparation of the financial statements for the year ended December 31, 2020. For a discussion of the calculation under the treasury stock method, refer to Note 30 of the Consolidated Financial Statements included in the 2020 Form 10-K.

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