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Earnings Per Common Share (Tables)
6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Basic and Diluted Earnings Per Common Share

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,
 
     2013      2012      2013      2012  

Net income

   $ 59,663       $ 58,062       $ 114,851       $ 119,095   

Less: Preferred stock dividends

     2,688         —           2,688         —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Net income available to common shareholders

     56,975         58,062         112,163         119,095   

Less: Earnings allocated to participating securities

     209         185         407         376   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net earnings allocated to common stock

   $ 56,766       $ 57,877       $ 111,756       $ 118,719   
  

 

 

    

 

 

    

 

 

    

 

 

 

Distributed earnings allocated to common stock

   $ 30,058       $ 29,424       $ 58,733       $ 57,575   

Undistributed earnings allocated to common stock

     26,708         28,453         53,023         61,144   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net earnings allocated to common stock

   $ 56,766       $ 57,877       $ 111,756       $ 118,719   
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted-average shares outstanding for basic earnings per common share

     60,010,527         61,290,792         60,299,939         61,245,959   

Dilutive effect of stock compensation

     664,597         344,044         628,961         338,732   
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted-average shares outstanding for diluted earnings per common share

     60,675,124         61,634,836         60,928,900         61,584,691