Earnings Per Share

6 Months Ended

Jun. 30, 2024

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.


	Three months ended June 30,				Six months ended June 30,
(in thousands, except per share data)	2024		2023		2024		2023
Net income available to common shareholders	$	44,509	$	48,190	$	83,972	$	102,990








Weighted average common shares outstanding	37,485		37,347		37,488		37,326

Additional dilutive common stock equivalents	55		148		76		185
Weighted average diluted common shares outstanding	37,540		37,495		37,564		37,511

Basic earnings per common share:	$	1.19	$	1.29	$	2.24	$	2.76
Diluted earnings per common share:	1.19		1.29		2.24		2.75

For the three and six months ended June 30, 2024, common stock equivalents of approximately 634,000 and 621,000, respectively, were excluded from the earnings per share calculations because their effect would have been anti-dilutive. Comparatively, there were 462,000 and 411,000 common stock equivalents excluded in the three and six months ended June 30, 2023, respectively.