Earnings Per Share

3 Months Ended

Mar. 31, 2024

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated.


	Three Months Ended March 31,
(in thousands, except per share data)		2024		2023
Net income		$	62,631	$	62,300
Dividends on preferred stock		(1,573)		(1,719)

Earnings allocated to participating securities		(345)		(339)
Net income available to common shareholders		$	60,713	$	60,242

Weighted average shares outstanding:
Basic		119,662		115,451
Effect of dilutive securities:
Stock options		81		233
Restricted stock units		—		31
Diluted		119,743		115,715

Net income per common share:
Basic		$	0.51	$	0.52
Diluted		$	0.51	$	0.52

At March 31, 2024, United excluded from the computation of earnings per share 984 potentially dilutive shares of common stock issuable upon exercise of stock options because of their antidilutive effect. At March 31, 2023, United had no potentially dilutive instruments outstanding that were not included in the computation.