Earnings Per Share ("EPS")

3 Months Ended

Mar. 31, 2025

EARNINGS PER SHARE (“EPS”)

Basic EPS is computed by dividing reported net income available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing reported net income available to common stockholders by the weighted average common shares and all potential dilutive common shares outstanding during the period.

The computation of earnings per share is as follows:


	Three Months Ended March 31,
(In thousands, except per share data)		2025		2024
Net income available to common stockholders		$	32,388	$	38,871

Average common shares outstanding		125,800		125,340
Average potential dilutive common shares		537		322
Average diluted common shares		126,337		125,662

Basic earnings per share		$	0.26	$	0.31
Diluted earnings per share		$	0.26	$	0.31

There were 317,660 stock options excluded from the three months ended March 31, 2025 earnings per share calculation due to the related stock option exercise price exceeding the average market price of the Company’s stock during the period. There were 410,490 stock options excluded from the earnings per share calculation for the three months ended March 31, 2024 due to the related stock option exercise price exceeding the average market price of the Company’s stock during the period.