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Earnings Per Common Share
9 Months Ended
Sep. 30, 2022
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 2021 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,
2022202120222021
Net income$169,760 $107,975 $387,976 $342,058 
Less: Preferred stock dividends1,668 1,668 5,006 5,488 
Net income available to common shareholders168,092 106,307 382,970 336,570 
Less: Earnings allocated to participating securities1,503 932 3,414 3,228 
Net earnings allocated to common stock$166,589 $105,375 $379,556 $333,342 
Distributed earnings allocated to common stock$55,820 $47,740 $151,963 $139,224 
Undistributed earnings allocated to common stock110,769 57,635 227,593 194,118 
Net earnings allocated to common stock$166,589 $105,375 $379,556 $333,342 
Weighted-average shares outstanding for basic earnings per common share64,157,662 63,652,020 64,107,621 63,522,884 
Dilutive effect of stock compensation343,750 444,636 369,268 489,219 
Weighted-average shares outstanding for diluted earnings per common share64,501,412 64,096,656 64,476,889 64,012,103