NET INCOME PER COMMON SHARE

3 Months Ended

Mar. 31, 2024

Basic net income per common share is computed by dividing net income available to common stockholders by the weighted-average common shares outstanding during the reporting period. Diluted net income per common share is computed by dividing net income available to common stockholders by the combination of the weighted-average common shares outstanding during the reporting period and all potentially dilutive common shares. Potentially dilutive common shares include stock options and RSAs issued under the Corporation's share-based compensation plans. Potentially dilutive common shares are excluded from the computation of diluted earnings per common share in the periods where the effect would be antidilutive.

The following table reconciles basic and diluted net income per common share for the three months ended March 31, 2024 and 2023.


	Three Months Ended March 31,
	2024					2023
	Net Income Available to Common Stockholders		Weighted-Average Common Shares	Per Share Amount		Net Income Available to Common Stockholders		Weighted-Average Common Shares	Per Share Amount
Net income available to common stockholders	$	47,472	59,066,789	$	0.80	$	63,610	59,216,198	$	1.07
Effect of potentially dilutive stock options and restricted stock awards			206,225					224,530
Diluted net income per common share	$	47,472	59,273,014	$	0.80	$	63,610	59,440,728	$	1.07
RSAs excluded from the diluted average common share calculation(1)			87,287					51,470

(1) Anti-dilution occurs when the unrecognized compensation cost per share of an RSA exceeds the market price of the Corporation's stock.