Net Income Per Common Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Net Income Per Common Share

Net Income Per Common Share

(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,
	2024		2023		2022
Basic
Net income applicable to common stock	$	195,457	$	144,678	$	166,068
Average common shares outstanding	59,350,157		56,099,689		55,904,579
Net income per common share—basic	$	3.29	$	2.58	$	2.97
Diluted
Net income applicable to common stock	$	195,457	$	144,678	$	166,068
Average common shares outstanding	59,350,157		56,099,689		55,904,579
Effect of dilutive stock-based compensation	398,633		348,474		309,651
Average common shares outstanding—diluted	59,748,790		56,448,163		56,214,230
Net income per common share—diluted	$	3.27	$	2.56	$	2.95

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,
	2024	2023	2022
Number of shares	—	6,600	9,250