Earnings Per Share

3 Months Ended

Mar. 31, 2024

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)	2024		2023
Net income available to common shareholders	$	39,463	$	54,800








Weighted average common shares outstanding	37,490		37,305

Additional dilutive common stock equivalents	107		182
Weighted average diluted common shares outstanding	37,597		37,487

Basic earnings per common share:	$	1.05	$	1.47
Diluted earnings per common share:	1.05		1.46

For the three months ended March 31, 2024 and 2023, common stock equivalents of approximately 581,000 and 311,000, respectively, were excluded from the earnings per share calculations because their effect would have been anti-dilutive.