Net income per common share

9 Months Ended

Sep. 30, 2024

Earnings Per Share

Net Income (Loss) Per Common Share

Note 25 – 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, 2024 and 2023:

Quarters ended September 30,

Nine months ended September 30,

(In thousands, except per share information)

2024

2023

2024

2023

Net income

$

155,323

$

136,609

$

436,395

$

446,748

Preferred stock dividends

(353)

(353)

(1,059)

(1,059)

Net income applicable to common stock

$

154,970

$

136,256

$

435,336

$

445,689

Average common shares outstanding

71,807,136

71,794,934

71,882,273

71,676,630

Average potential dilutive common shares 

21,266

23,168

29,880

59,884

Average common shares outstanding - assuming dilution

71,828,402

71,818,102

71,912,153

71,736,514

Basic EPS

$

2.16

$

1.90

$

6.06

$

6.22

Diluted EPS

$

2.16

$

1.90

$

6.05

$

6.21

For the quarters and nine months ended September 30, 2024 and 2023, 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, 2023. For a discussion of the calculation under the treasury stock method, refer to Note 31 of the

Consolidated Financial Statements included in the 2023 Form 10-K.