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Earnings Per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | 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 September 30, |  | Nine months ended September 30, |
(in thousands, except per share data) | 2024 |  | 2023 |  | 2024 |  | 2023 |
Net income available to common shareholders | $ | 49,647 |  |  | $ | 43,727 |  |  | $ | 133,619 |  |  | $ | 146,717 |  |
Weighted average common shares outstanding | 37,337 |  |  | 37,405 |  |  | 37,437 |  |  | 37,353 |  |
Additional dilutive common stock equivalents | 146 |  |  | 115 |  |  | 110 |  |  | 140 |  |
Weighted average diluted common shares outstanding | 37,483 |  |  | 37,520 |  |  | 37,547 |  |  | 37,493 |  |
Basic earnings per common share: | $ | 1.33 |  |  | $ | 1.17 |  |  | $ | 3.57 |  |  | $ | 3.93 |  |
Diluted earnings per common share: | 1.32 |  |  | 1.17 |  |  | 3.56 |  |  | 3.91 |  |
For the three and nine months ended September 30, 2024, common stock equivalents of approximately 441,000 and 572,000, respectively, were excluded from the earnings per share calculations because their effect would have been anti-dilutive. Comparatively, there were 440,000 and 430,000 common stock equivalents excluded in the three and nine months ended September 30, 2023, respectively.

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