Earnings Per Share ("EPS")

3 Months Ended

Mar. 31, 2024

EARNINGS PER SHARE (“EPS”)

Basic EPS is computed by dividing reported net income available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing reported net income available to common stockholders by the weighted average common shares and all potential dilutive common shares outstanding during the period.

The computation of earnings per share is as follows:


	Three Months Ended March 31,
(In thousands, except per share data)		2024		2023
Net income available to common stockholders		$	38,871	$	45,589

Average common shares outstanding		125,340		127,186
Average potential dilutive common shares		322		330
Average diluted common shares		125,662		127,516

Basic earnings per share		$	0.31	$	0.36
Diluted earnings per share		$	0.31	$	0.36

There were 410,490 stock options excluded from the three months ended March 31, 2024 earnings per share calculation due to the related stock option exercise price exceeding the average market price of the Company’s stock during the period. There were 422,180 stock options excluded from the earnings per share calculation for the three months ended March 31, 2023 due to the related stock option exercise price exceeding the average market price of the Company’s stock during the period.