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Earning Per Common Share | 12 Months Ended
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Dec. 31, 2019
Earning Per Common Share [Abstract] |
Earning Per Common Share | NOTE 25 – EARNINGS PER COMMON SHARE The calculation of earnings per common share for the years ended December 31, 2019, 2018 and 2017 is as follows:
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
| (In thousands, except per share data)
Net income | $ | 53,841 |  | $ | 84,410 |  | $ | 52,646
Less: Dividends on preferred stock |  |  |  |  |  |  |  |
Non-convertible preferred stock (Series A, B, and D) |  | (6,512) |  |  | (6,511) |  |  | (6,512)
Convertible preferred stock (Series C) |  | - |  |  | (5,513) |  |  | (7,350)
Income available to common shareholders | $ | 47,329 |  | $ | 72,386 |  | $ | 38,784
Effect of assumed conversion of the convertible preferred stock |  | - |  |  | 5,513 |  |  | 7,350
Income available to common shareholders assuming conversion | $ | 47,329 |  | $ | 77,899 |  | $ | 46,134
Weighted average common shares and share equivalents: |  |  |  |  |  |  |  |
Average common shares outstanding |  | 51,335 |  |  | 45,400 |  |  | 43,939
Effect of dilutive securities: |  |  |  |  |  |  |  |
Average potential common shares-options |  | 384 |  |  | 142 |  |  | 19
Average potential common shares-assuming conversion of convertible preferred stock |  | - |  |  | 5,807 |  |  | 7,138
Total weighted average common shares outstanding and equivalents |  | 51,719 |  |  | 51,349 |  |  | 51,096
Earnings per common share - basic | $ | 0.92 |  | $ | 1.59 |  | $ | 0.88
Earnings per common share - diluted | $ | 0.92 |  | $ | 1.52 |  | $ | 0.88
During the last quarter of 2018, Oriental converted all of its 84,000 outstanding shares of Series C P referred S tock into common stock. Each S eries C P referred S tock share w as converted into 8 6.4225 shares of common stock. I n computing diluted earnings per common share d uring t he first nine months of 2018, the 84,000 shares of Series C P referred S tock that remained outstanding, with a conversion rate, subject to certain conditions, of 86.4225 shares of common stock per share, were included as average potential common shares from the date they were issued and outstanding. Moreover, in computing diluted earnings per common share, the dividends declared during the years ended December 31, 2018 and 2017 on the conver tible preferred stock were added back as income available to common shareholders. For the years ended December 31, 2019, 2018 and 2017, weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculat ion amounted to 2,575, 432,532 and 932,306, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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