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Earnings Per Common Share (Tables)
12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Summary of Earnings Per Common Share

Earnings per common share are calculated as follows:

 

 

 

For the Years Ended December 31,

 

(in thousands, except shares and per share amounts)

 

2022

 

 

2021

 

 

2020

 

Numerator for both basic and diluted earnings per common share:

 

 

 

 

 

 

 

 

 

Net income available to common shareholders

 

$

181,988

 

 

$

232,135

 

 

$

119,400

 

Denominator:

 

 

 

 

 

 

 

 

 

Total average basic common shares outstanding

 

 

60,047,177

 

 

 

65,520,527

 

 

 

67,260,796

 

Effect of dilutive stock options and other stock compensation

 

 

168,197

 

 

 

149,443

 

 

 

49,788

 

Total diluted average common shares outstanding

 

 

60,215,374

 

 

 

65,669,970

 

 

 

67,310,584

 

Earnings per common share—basic

 

$

3.03

 

 

$

3.54

 

 

$

1.78

 

Earnings per common share—diluted

 

 

3.02

 

 

 

3.53

 

 

 

1.77