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Earnings Per Share Reconciliation (Tables)
9 Months Ended
Sep. 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
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(In thousands, except per share amounts)

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

51,224

 

 

$

57,887

 

 

$

149,858

 

 

$

172,927

 

Less: Net earnings allocated to restricted stock

 

 

377

 

 

 

410

 

 

 

1,075

 

 

 

1,208

 

Net earnings allocated to common shareholders

 

$

50,847

 

 

$

57,477

 

 

$

148,783

 

 

$

171,719

 

Weighted average shares outstanding

 

 

138,650

 

 

 

138,345

 

 

 

138,415

 

 

 

138,361

 

Basic earnings per common share

 

$

0.37

 

 

$

0.42

 

 

$

1.07

 

 

$

1.24

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income allocated to common shareholders

 

$

50,847

 

 

$

57,477

 

 

$

148,783

 

 

$

171,719

 

Weighted average shares outstanding

 

 

138,650

 

 

 

138,345

 

 

 

138,415

 

 

 

138,361

 

Incremental shares from assumed exercise of
   outstanding options

 

 

189

 

 

 

136

 

 

 

134

 

 

 

120

 

Diluted weighted average shares outstanding

 

 

138,839

 

 

 

138,481

 

 

 

138,549

 

 

 

138,481

 

Diluted earnings per common share

 

$

0.37

 

 

$

0.42

 

 

$

1.07

 

 

$

1.24