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Earnings Per Common Share
 6 Months Ended
Jun. 30, 2020
Earnings Per Common Share [Abstract]  
Earnings Per Common Share NOTE 19 – EARNINGS PER COMMON SHAREThe calculation of earnings per common share for the quarters and six-month periods ended June 30, 2020 and 2019 is as follows:

 

Quarter Ended June 30,

 

Six-Month Period Ended June 30,

 

2020

 

2019

 

2020

 

2019

 

(In thousands, except per share data)

Net income

$

21,787

 

$

23,979

 

$

23,588

 

$

47,449

Less: Dividends on preferred stock

 

 

 

 

 

 

 

 

 

 

 

Non-convertible preferred stock (Series A, B, and D)

 

(1,628)

 

 

(1,628)

 

 

(3,256)

 

 

(3,256)

Income available to common shareholders

$

20,159

 

$

22,351

 

$

20,332

 

$

44,193

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

51,336

 

 

51,330

 

 

51,370

 

 

51,317

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

Average potential common shares-options

 

134

 

 

350

 

 

214

 

 

335

Total weighted average common shares outstanding and equivalents

 

51,470

 

 

51,680

 

 

51,584

 

 

51,652

Earnings per common share - basic

$

0.39

 

$

0.44

 

$

0.40

 

$

0.86

Earnings per common share - diluted

$

0.39

 

$

0.43

 

$

0.39

 

$

0.86

For the quarter ended June 30, 2020, weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to 6,164. For the quarter ended June 30, 2019, Oriental did not have weighted-average stock options with an anti-dilutive effect on earnings per share. For the six-month periods ended June 30, 2020 and 2019, weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to 2,688 and 47,420, respectively.