Earnings Per Share

3 Months Ended

Mar. 31, 2025

EARNINGS PER SHARE

Basic earnings per common share is calculated by dividing net income available to common stockholders 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)	2025		2024
Net income available to common stockholders	$	49,023	$	39,463








Weighted average common shares outstanding	36,971		37,490

Additional dilutive common stock equivalents	316		107
Weighted average common diluted shares outstanding	37,287		37,597

Basic earnings per common share:	$	1.33	$	1.05
Diluted earnings per common share:	1.31		1.05

For the three months ended March 31, 2025 and 2024, common stock equivalents of approximately 259,000 and 581,000, respectively, were excluded from the earnings per share calculations because their effect would have been anti-dilutive.