Earnings Per Common Share

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common Share

Earnings per common share is computed using the two-class method as more fully described in our 2015 Form 10-K. The following table presents a reconciliation of net income available to common shareholders, net earnings allocated to common stock and the number of shares used in the calculation of basic and diluted earnings per common share.

	Three Months Ended   June 30,				Six Months Ended   June 30,
	2016		2015		2016		2015
Net income	$	71,479	$	73,077	$	140,258	$	145,240
Less: Preferred stock dividends	2,015		2,015		4,031		4,031
Net income available to common shareholders	69,464		71,062		136,227		141,209
Less: Earnings allocated to participating securities	252		247		487		484
Net earnings allocated to common stock	$	69,212	$	70,815	$	135,740	$	140,725
Distributed earnings allocated to common stock	$	33,463	$	33,465	$	66,285	$	65,644
Undistributed earnings allocated to common stock	35,749		37,350		69,455		75,081
Net earnings allocated to common stock	$	69,212	$	70,815	$	135,740	$	140,725
Weighted-average shares outstanding for basic earnings per common share	61,959,411		63,118,785		61,944,438		63,106,656
Dilutive effect of stock compensation	538,217		831,938		387,096		760,331
Weighted-average shares outstanding for diluted earnings per common share	62,497,628		63,950,723		62,331,534		63,866,987