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Earnings Per Share ("EPS") | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share ("EPS") | EARNINGS PER SHARE (“EPS”) Basic EPS is computed by dividing reported net income available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing reported net income available to common stockholders by the weighted average common shares and all potential dilutive common shares outstanding during the period. The computation of earnings per share is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands, except per share data) | 2024 |  | 2023 |  | 2024 |  | 2023
Net income available to common stockholders | $ | 24,740 |  |  | $ | 47,247 |  |  | $ | 104,374 |  |  | $ | 151,150 |
Average common shares outstanding | 125,538 |  |  | 125,914 |  |  | 125,449 |  |  | 126,730 |
Average potential dilutive common shares | 461 |  |  | 370 |  |  | 461 |  |  | 370 |
Average diluted common shares | 125,999 |  |  | 126,284 |  |  | 125,910 |  |  | 127,100 |
Basic earnings per share | $ | 0.20 |  |  | $ | 0.38 |  |  | $ | 0.83 |  |  | $ | 1.19 |
Diluted earnings per share | $ | 0.20 |  |  | $ | 0.37 |  |  | $ | 0.83 |  |  | $ | 1.19 |
There were 371,790 stock options excluded from the three and nine months ended September 30, 2024 earnings per share calculation due to the related stock option exercise price exceeding the average market price of the Company’s stock during the periods. There were 469,280 stock options excluded from the earnings per share calculation for the three and nine months ended September 30, 2023 due to the related stock option exercise price exceeding the average market price of the Company’s stock during the periods.

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