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EARNINGS PER COMMON SHARE
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE EARNINGS PER COMMON SHARE
The calculation of earnings per common share for the quarters and nine-month periods ended September 30, 2023 and 2022 is as follows:
Quarter Ended September 30,Nine-Month Period Ended September 30,
2023202220232022
(In thousands, except per share data)
Income available to common shareholders$44,873 $41,919 $135,275 $119,872 
Average common shares outstanding47,114 47,558 47,325 48,188 
Effect of dilutive securities:
Average potential common shares-options278 368 280 406 
Total weighted average common shares outstanding and equivalents47,392 47,926 47,605 48,594 
Earnings per common share - basic$0.95 $0.88 $2.86 $2.49 
Earnings per common share - diluted$0.95 $0.87 $2.84 $2.47 
For the quarters ended September 30, 2023 and 2022, weighted-average restricted stock units with an anti-dilutive effect on earnings per share not included in the calculation amounted to 245 and zero, respectively. For the nine-month periods ended September 30, 2023 and 2022, weighted-average restricted stock units with an anti-dilutive effect on earnings per share not included in the calculation amounted to 1,791 and 1,070, respectively.
During the first quarter of 2023, OFG increased its quarterly common stock cash dividend to $0.22 per share from $0.20 per share in the quarter ended December 31, 2022.