| Summary of Earnings Per Common Share |
The following table sets forth the computation of basic and diluted EPS. Table 1: Earnings Per Common Share
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For the Three Months
Ended September 30, |
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For the Nine Months
Ended September 30, |
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(unaudited, in thousands, except shares and per share amounts) |
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2026 |
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2025 |
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2026 |
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2025 |
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Numerator for both basic and diluted earnings per common share: |
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Net income available to common shareholders |
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$ |
85,265 |
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$ |
81,042 |
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$ |
258,096 |
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$ |
124,401 |
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Denominator: |
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Total average basic common shares outstanding |
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95,950,360 |
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95,995,174 |
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96,027,044 |
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89,593,739 |
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Effect of dilutive stock options and other stock compensation (1) |
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682,586 |
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121,443 |
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521,121 |
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124,967 |
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Total diluted average common shares outstanding |
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96,632,946 |
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96,116,617 |
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96,548,165 |
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89,718,706 |
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Earnings per common share - basic |
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$ |
0.89 |
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$ |
0.84 |
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$ |
2.69 |
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$ |
1.39 |
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Earnings per common share - diluted |
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$ |
0.88 |
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$ |
0.84 |
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$ |
2.67 |
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$ |
1.39 |
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(1) There were 103,613 and 422,836 options to purchase shares were not included in the diluted shares computation for the nine months ended September 30, 2026 and 2025, respectively, because the exercise price was greater than the average market price of a common share; therefore, the effect would be antidilutive.
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