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Earnings Per Share Reconciliation (Tables)
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Common Share Reconciliation

The table below shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations.

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(In thousands, except per share amounts)

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

50,035

 

 

$

55,770

 

 

$

98,634

 

 

$

115,040

 

Less: Net earnings allocated to restricted stock

 

 

373

 

 

 

390

 

 

 

697

 

 

 

798

 

Net earnings allocated to common shareholders

 

$

49,662

 

 

$

55,380

 

 

$

97,937

 

 

$

114,242

 

Weighted average shares outstanding

 

 

138,584

 

 

 

138,330

 

 

 

138,419

 

 

 

138,420

 

Basic earnings per common share

 

$

0.36

 

 

$

0.40

 

 

$

0.71

 

 

$

0.83

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income allocated to common shareholders

 

$

49,662

 

 

$

55,380

 

 

$

97,937

 

 

$

114,242

 

Weighted average shares outstanding

 

 

138,584

 

 

 

138,330

 

 

 

138,419

 

 

 

138,420

 

Incremental shares from assumed exercise of
   outstanding options

 

 

85

 

 

 

53

 

 

 

142

 

 

 

137

 

Diluted weighted average shares outstanding

 

 

138,669

 

 

 

138,383

 

 

 

138,561

 

 

 

138,557

 

Diluted earnings per common share

 

$

0.36

 

 

$

0.40

 

 

$

0.71

 

 

$

0.82