Earnings Per Common Share

Earnings per common share is computed using the two-class method as more fully described in our 2017 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,
	2018		2017		2018		2017
Net income	$	111,341	$	85,553	$	217,821	$	170,494
Less: Preferred stock dividends	2,015		2,015		4,031		4,031
Net income available to common shareholders	109,326		83,538		213,790		166,463
Less: Earnings allocated to participating securities	726		436		1,431		871
Net earnings allocated to common stock	$	108,600	$	83,102	$	212,359	$	165,592

Distributed earnings allocated to common stock	$	42,791	$	36,545	$	79,096	$	71,020
Undistributed earnings allocated to common stock	65,809		46,557		133,263		94,572
Net earnings allocated to common stock	$	108,600	$	83,102	$	212,359	$	165,592

Weighted-average shares outstanding for basic earnings per common share	63,836,651		64,061,264		63,743,442		63,900,620
Dilutive effect of stock compensation	1,062,637		974,067		1,043,712		988,198
Weighted-average shares outstanding for diluted earnings per common share	64,899,288		65,035,331		64,787,154		64,888,818