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EARNINGS PER COMMON SHARE
 3 Months Ended
Mar. 31, 2024
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, 2024 and 2023 is as follows:
Quarter Ended March 31,
20242023
(In thousands, except per share data)
Income available to common shareholders$49,692 $46,229 
Average common shares outstanding47,096 47,600 
Effect of dilutive securities:
Average potential common shares-options247 344 
Total weighted average common shares outstanding and equivalents47,343 47,944 
Earnings per common share - basic$1.06 $0.97 
Earnings per common share - diluted$1.05 $0.96 

For the quarters ended March 31, 2024 and 2023, weighted-average restricted stock units with an anti-dilutive effect on earnings per share not included in the calculation amounted to zero and 446, respectively.
During the quarter ended March 31, 2024, OFG increased its quarterly common stock cash dividend to $0.25 per share from $0.22 per share at December 31, 2023.