Earnings (Loss) per Share

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Earnings (Loss) per Share

Earnings per Share

Basic earnings per share is computed by dividing net income, after the deduction of preferred stock dividends and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share assumes the issuance of common stock for all potentially dilutive share equivalents outstanding not classified as participating securities. Participating securities are defined as unvested stock-based compensation awards that contain nonforfeitable rights to dividends.

	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except per share values)	2026		2025		2026		2025
Net income	$	86,194	$	62,773	$	157,463	$	122,378
Preferred stock dividends	(10)		(10)		(20)		(20)
Net income attributable to common equity	86,184		62,763		157,443		122,358
Dividends and undistributed earnings allocated to participating securities	(9)		(6)		(16)		(10)
Net income attributable to common shareholders	86,175		62,757		$	157,427	$	122,348
Basic weighted-average shares outstanding	38,623		39,258		38,740		39,296
Stock-based compensation awards	74		101		101		134
Diluted weighted-average shares outstanding	38,697		39,359		38,841		39,430
Antidilutive shares	—		—		—		—
Earnings per share:
Basic	$	2.23	$	1.60	$	4.06	$	3.11
Diluted	$	2.23	$	1.59	$	4.05	$	3.10