Earnings Per Share ("EPS")

3 Months Ended

Mar. 31, 2026

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)		2026		2025
Net income available to common stockholders		$	68,544	$	32,388

Average common shares outstanding		144,899		125,800
Average potential dilutive common shares		441		537
Average diluted common shares		145,340		126,337

Basic earnings per share		$	0.47	$	0.26
Diluted earnings per share		$	0.47	$	0.26

There were no stock options excluded from the three months ended March 31, 2026 earnings per share calculation as there were no outstanding stock options as of March 31, 2026. There were 317,660 stock options excluded from the earnings per share calculation for the three months ended March 31, 2025 due to the related stock option exercise price exceeding the average market price of the Company’s stock during the period.