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Earnings Per Common Share
6 Months Ended
Jun. 30, 2024
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 2023 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,
2024202320242023
Net income$145,499 $162,118 $281,189 $339,771 
Less: Preferred stock dividends1,669 1,669 3,338 3,338 
Net income available to common shareholders143,830 160,449 277,851 336,433 
Less: Earnings allocated to participating securities1,693 1,645 3,334 3,468 
Net earnings allocated to common stock$142,137 $158,804 $274,517 $332,965 
Distributed earnings allocated to common stock$59,108 $55,783 $118,188 $111,789 
Undistributed earnings allocated to common stock83,029 103,021 156,329 221,176 
Net earnings allocated to common stock$142,137 $158,804 $274,517 $332,965 
Weighted-average shares outstanding for basic earnings per common share64,192,907 64,240,789 64,204,615 64,306,809 
Dilutive effect of stock compensation140,280 187,172 147,693 225,267 
Weighted-average shares outstanding for diluted earnings per common share64,333,187 64,427,961 64,352,308 64,532,076