Net Income Per Common Share

12 Months Ended

Dec. 31, 2023

(In Thousands, Except Share Data)

Basic and diluted net income per common share calculations are as follows for the periods presented:


	Year Ended December 31,
	2023		2022		2021
Basic
Net income applicable to common stock	$	144,678	$	166,068	$	175,892
Average common shares outstanding	56,099,689		55,904,579		56,114,666
Net income per common share—basic	$	2.58	$	2.97	$	3.13
Diluted
Net income applicable to common stock	$	144,678	$	166,068	$	175,892
Average common shares outstanding	56,099,689		55,904,579		56,114,666
Effect of dilutive stock-based compensation	348,474		309,651		309,818
Average common shares outstanding—diluted	56,448,163		56,214,230		56,424,484
Net income per common share—diluted	$	2.56	$	2.95	$	3.12

Outstanding stock-based compensation awards that could potentially dilute basic net income per common share in the future that were not included in the computation of diluted net income per common share due to their anti-dilutive effect were as follows for the periods presented:


	Year Ended
	December 31,
	2023	2022	2021
Number of shares	6,600	9,250	—