Earnings Per Common Share

9 Months Ended

Sep. 30, 2017

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 September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Net income	$	93,131	$	80,219	$	263,625	$	220,542
Less: Preferred stock dividends	2,016		2,016		6,047		6,047
Net income available to common shareholders	91,115		78,203		257,578		214,495
Less: Earnings allocated to participating securities	475		282		1,346		769
Net earnings allocated to common stock	$	90,640	$	77,921	$	256,232	$	213,726

Distributed earnings allocated to common stock	$	36,174	$	33,918	$	107,194	$	100,203
Undistributed earnings allocated to common stock	54,466		44,003		149,038		113,523
Net earnings allocated to common stock	$	90,640	$	77,921	$	256,232	$	213,726

Weighted-average shares outstanding for basic earnings per common share	63,667,356		62,449,660		63,822,011		62,114,075
Dilutive effect of stock compensation	897,945		691,543		957,337		448,290
Weighted-average shares outstanding for diluted earnings per common share	64,565,301		63,141,203		64,779,348		62,562,365