Earnings Per Common Share

6 Months Ended

Jun. 30, 2017

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 2016 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,
	2017		2016		2017		2016
Net income	$	85,553	$	71,507	$	170,494	$	140,323
Less: Preferred stock dividends	2,015		2,015		4,031		4,031
Net income available to common shareholders	83,538		69,492		166,463		136,292
Less: Earnings allocated to participating securities	436		252		871		487
Net earnings allocated to common stock	$	83,102	$	69,240	$	165,592	$	135,805
Distributed earnings allocated to common stock	$	36,545	$	33,463	$	71,020	$	66,285
Undistributed earnings allocated to common stock	46,557		35,777		94,572		69,520
Net earnings allocated to common stock	$	83,102	$	69,240	$	165,592	$	135,805
Weighted-average shares outstanding for basic earnings per common share	64,061,264		61,959,411		63,900,620		61,944,438
Dilutive effect of stock compensation	974,067		497,532		988,198		267,632
Weighted-average shares outstanding for diluted earnings per common share	65,035,331		62,456,943		64,888,818		62,212,070