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Earnings Per Common Share (Tables)
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Summary of Earnings Per Common Share

Earnings per common share are calculated as follows:

 

 

 

For the Three Months
Ended September 30,

 

 

For the Nine Months
Ended September 30,

 

(unaudited, in thousands, except shares and per share amounts)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Numerator for both basic and diluted earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to common shareholders

 

$

50,502

 

 

$

41,877

 

 

$

132,309

 

 

$

180,518

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Total average basic common shares outstanding

 

 

59,549,244

 

 

 

64,931,764

 

 

 

60,336,637

 

 

 

66,354,750

 

Effect of dilutive stock options and other stock compensation

 

 

148,432

 

 

 

134,084

 

 

 

152,611

 

 

 

155,607

 

Total diluted average common shares outstanding

 

 

59,697,676

 

 

 

65,065,848

 

 

 

60,489,248

 

 

 

66,510,357

 

Earnings per common share - basic

 

$

0.85

 

 

$

0.64

 

 

$

2.19

 

 

$

2.72

 

Earnings per common share - diluted

 

$

0.85

 

 

$

0.64

 

 

$

2.19

 

 

$

2.71