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EARNINGS PER COMMON SHARE
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE EARNINGS PER COMMON SHARE
The calculation of earnings per common share for the quarters ended March 31, 2023 and 2022 is as follows:
Quarter Ended March 31,
20232022
(In thousands, except per share data)
Income available to common shareholders$46,229 $37,521 
Average common shares outstanding47,600 48,968 
Effect of dilutive securities:
Average potential common shares-options344 516 
Total weighted average common shares outstanding and equivalents47,944 49,484 
Earnings per common share - basic$0.97 $0.77 
Earnings per common share - diluted$0.96 $0.76 
For the quarter ended March 31, 2023, weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to 446. OFG did not have weighted-average stock options with anti-dilutive effect on earnings per share for the quarter ended March 31, 2022.
During the quarter ended March 31, 2023, OFG increased its quarterly common stock cash dividend to $0.22 per share from $0.20 per share at December 31, 2022.