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Earnings Per Common Share
9 Months Ended
Sep. 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
September 30,
Nine Months Ended
September 30,
2024202320242023
Net income$146,501 $155,651 $427,690 $495,422 
Less: Preferred stock dividends1,668 1,668 5,006 5,006 
Net income available to common shareholders144,833 153,983 422,684 490,416 
Less: Earnings allocated to participating securities1,581 1,533 4,855 5,016 
Net earnings allocated to common stock$143,252 $152,450 $417,829 $485,400 
Distributed earnings allocated to common stock$60,706 $58,913 $178,894 $170,702 
Undistributed earnings allocated to common stock82,546 93,537 238,935 314,698 
Net earnings allocated to common stock$143,252 $152,450 $417,829 $485,400 
Weighted-average shares outstanding for basic earnings per common share63,957,786 64,067,352 64,121,925 64,226,113 
Dilutive effect of stock compensation127,221 171,892 141,501 208,187 
Weighted-average shares outstanding for diluted earnings per common share64,085,007 64,239,244 64,263,426 64,434,300