Earnings Per Share

12 Months Ended

Dec. 31, 2023

EARNINGS PER SHARE

Basic earnings per common share data is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method.

The following table presents a summary of per common share data and amounts for the periods indicated.


	Year ended December 31,
($ and shares in thousands, except per share data)	2023		2022		2021



Net income available to common shareholders	$	190,309	$	199,002	$	133,055






Weighted average common shares outstanding	37,370		37,381		34,436

Additional dilutive common stock equivalents	137		119		60
Weighted average diluted common shares outstanding	37,507		37,500		34,496

Basic earnings per common share	$	5.09	$	5.32	$	3.86
Diluted earnings per common share	$	5.07	$	5.31	$	3.86

For 2023, 2022 and 2021, common stock equivalents of approximately 419,000, 224,000 and 158,000, respectively, were excluded from the earnings per share calculation because their effect would have been anti-dilutive.