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EARNINGS PER COMMON SHARE
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE [Text Block]
NOTE 12 – EARNINGS PER COMMON SHARE
The calculations of earnings per common share for the quarters and nine-month periods
 
ended September 30, 2022 and 2021 are as
follows:
Quarter Ended
Nine-Month Period Ended
September 30,
September 30,
2022
2021
2022
2021
(In thousands, except per share information)
Net income
$
74,603
$
75,678
$
231,898
$
207,386
Less: Preferred stock dividends
-
(669)
-
(2,007)
 
Net income attributable to common stockholders
$
74,603
$
75,009
$
231,898
$
205,379
Weighted-Average
 
Shares:
Average common
 
shares outstanding
187,236
206,725
193,217
212,406
Average potential
 
dilutive common shares
1,083
1,071
1,151
1,117
Average common
 
shares outstanding - assuming dilution
188,319
207,796
194,368
213,523
Earnings per common share:
Basic
$
0.40
$
0.36
$
1.20
$
0.97
Diluted
$
0.40
$
0.36
$
1.19
$
0.96
Earnings
 
per
 
common
 
share
 
is
 
computed
 
by
 
dividing
 
net
 
income
 
attributable
 
to
 
common
 
stockholders
 
by
 
the
 
weighted-average
number of common shares issued and outstanding. Net income attributable
 
to common stockholders represents net income adjusted for
any preferred
 
stock dividends,
 
including any
 
dividends declared
 
but not
 
yet paid,
 
and any cumulative
 
dividends related
 
to the
 
current
dividend period
 
that have
 
not been
 
declared as
 
of the
 
end of
 
the period.
 
Basic weighted-average
 
common shares
 
outstanding exclude
unvested shares of restricted stock that do not contain non-forfeitable
 
dividend rights.
Potential dilutive
 
common shares
 
consist of
 
unvested shares
 
of restricted
 
stock that
 
do not
 
contain
 
non-forfeitable dividend
 
rights
using the
 
treasury stock
 
method. This
 
method assumes
 
that proceeds
 
equal to
 
the amount
 
of compensation
 
cost attributable
 
to future
services
 
is
 
used
 
to
 
repurchase
 
shares
 
on
 
the
 
open
 
market
 
at
 
the
 
average
 
market
 
price
 
for
 
the
 
period.
 
The
 
difference
 
between
 
the
number
 
of
 
potential
 
dilutive
 
shares
 
issued
 
and
 
the
 
shares
 
purchased
 
is
 
added
 
as
 
incremental
 
shares
 
to
 
the
 
actual
 
number
 
of
 
shares
outstanding
 
to
 
compute
 
diluted
 
earnings
 
per
 
share.
 
Unvested
 
shares
 
of
 
restricted
 
stock
 
outstanding
 
during
 
the
 
period
 
that
 
result
 
in
lower potentially
 
dilutive shares issued
 
than shares purchased
 
under the
 
treasury stock method
 
are not included
 
in the computation
 
of
dilutive
 
earnings
 
per
 
share
 
since
 
their
 
inclusion
 
would
 
have an
 
antidilutive
 
effect
 
on
 
earnings
 
per
 
share.
 
There
 
were
no
 
antidilutive
shares
 
of
 
common
 
stock
 
in
 
the
 
quarters
 
and
 
nine-month
 
periods
 
ended
 
September
 
30,
 
2022
 
and
 
2021.
 
Potential
 
dilutive
 
common
shares also include
 
performance units
 
that do not
 
contain non-forfeitable
 
dividend rights if
 
the performance
 
condition is met
 
as of the
end of the reporting period.