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EARNINGS PER COMMON SHARE
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE EARNINGS PER COMMON SHARE
Basic earnings per common share is calculated by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding net of unvested shares of restricted stock.
Diluted earnings per common share is calculated by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding, adjusted for the dilutive effect of potential common shares issuable for stock options and restricted shares, as calculated using the treasury stock method. Adjustments to the weighted average number of shares of common stock outstanding are made only when such adjustments dilute earnings per common share.
The following table sets forth the computation of basic and diluted earnings per common share:
TABLE 15.1
Three Months Ended
September 30,		Nine Months Ended
September 30,
(dollars in millions, except per share data)
2025202420252024
Net income$150 $110 $397 $355 
Less: Preferred stock dividends— — — 6 
Net income available to common shareholders$150 $110 $397 $349 
Basic weighted average common shares outstanding360,562,829 361,272,879 361,232,517 361,425,077 
Net effect of dilutive stock options and restricted stock1,106,789 1,152,649 1,096,952 1,157,928 
Diluted weighted average common shares outstanding361,669,618 362,425,528 362,329,469 362,583,005 
Earnings per common share:
Basic$0.41 $0.30 $1.10 $0.97 
Diluted$0.41 $0.30 $1.09 $0.96 
There were no anti-dilutive shares for the nine months ended September 30, 2025 and 2024.