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Earnings Per Common Share
 6 Months Ended
Jun. 30, 2021
Earnings Per Common Share [Abstract]  
Earnings Per Common Share NOTE 18 – EARNINGS PER COMMON SHAREThe calculation of earnings per common share for the quarters and six-month periods ended June 30, 2021 and 2020 is as follows:

 

Quarter Ended June 30,

 

Six-Month Period Ended June 30,

 

2021

 

2020

 

2021

 

2020

 

(In thousands, except per share data)

Net income

$

40,827

 

$

21,787

 

$

71,200

 

$

23,588

Less: Dividends on preferred stock

 

 

 

 

 

 

 

 

 

 

 

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

 

-

 

 

(1,628)

 

 

(1,255)

 

 

(3,256)

Income available to common shareholders

$

40,827

 

$

20,159

 

$

69,945

 

$

20,332

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

$

51,636

 

$

51,336

 

$

51,517

 

$

51,370

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

Average potential common shares-options

 

412

 

 

134

 

 

368

 

 

214

Total weighted average common shares outstanding and equivalents

$

52,048

 

$

51,470

 

$

51,885

 

$

51,584

Earnings per common share - basic

$

0.79

 

$

0.39

 

$

1.36

 

$

0.40

Earnings per common share - diluted

$

0.78

 

$

0.39

 

$

1.35

 

$

0.39

For the quarters ended June 30, 2021 and 2020, weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to 1,514 and 6,164, respectively. For the six-month periods ended June 30, 2021 and 2020, weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to zero and 2,688, respectively.