Net income per common share

9 Months Ended

Sep. 30, 2023

Earnings Per Share

Net Income (Loss) Per Common Share

Note 26 – Net income per common share

The following table sets forth the computation of net income per common share (“EPS”), basic and diluted, for the quarters and nine

months ended September 30, 2023 and 2022:

Quarters ended September 30,

Nine months ended September 30,

(In thousands, except per share information)

2023

2022

2023

2022

Net income

$

136,609

$

422,395

$

446,748

$

845,502

Preferred stock dividends

(353)

(353)

(1,059)

(1,059)

Net income applicable to common stock

$

136,256

$

422,042

$

445,689

$

844,443

Average common shares outstanding

71,794,934

73,955,184

71,676,630

76,173,783

Average potential dilutive common shares 

23,168

102,148

59,884

130,436

Average common shares outstanding - assuming dilution

71,818,102

74,057,332

71,736,514

76,304,219

Basic EPS

$

1.90

$

5.71

$

6.22

$

11.09

Diluted EPS

$

1.90

$

5.70

$

6.21

$

11.07

For the quarters and nine months ended September 30, 2023 and 2022, the Corporation calculated the impact of potential dilutive

common shares under the treasury stock method, consistent with the method used for the preparation of the financial statements for

the year ended December 31, 2022. For a discussion of the calculation under the treasury stock method, refer to Note 31 of the

Consolidated Financial Statements included in the 2022 Form 10-K.