Earnings Per Share

3 Months Ended

Mar. 31, 2023

EARNINGS PER SHARE

Basic earnings per common share data is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method.

The following table presents a summary of per common share data and amounts for the periods indicated.


	Three months ended March 31,
(in thousands, except per share data)	2023		2022
Net income available to common shareholders	$	54,800	$	46,464








Weighted average common shares outstanding	37,305		37,788

Additional dilutive common stock equivalents	182		70
Weighted average diluted common shares outstanding	37,487		37,858

Basic earnings per common share:	$	1.47	$	1.23
Diluted earnings per common share:	1.46		1.23

For the three months ended March 31, 2023 and 2022, common stock equivalents of approximately 311,000 and 276,000, respectively, were excluded from the earnings per share calculations because their effect would have been anti-dilutive.