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Earnings Per Common Share
 6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings Per Common Share
Earnings per common share are calculated utilizing the two-class method. Basic earnings per common share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding. Diluted earnings per common share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding adjusted for the dilutive effect of common stock awards (outstanding stock options and unvested restricted stock awards) and common stock warrants. Presented below are the calculations for basic and diluted earnings per common share:
 
For the Three Months Ended June 30,
For the Six Months Ended June 30,
 
2019
 
2018
2019
 
2018
 
(In Thousands, except per share data)
Net income
$
84,661

 
$
89,192

$
171,347

 
$
158,648

Preferred stock dividends
(3,801
)
 
(2,329
)
(7,601
)
 
(4,668
)
Net income available to common equity
$
80,860

 
$
86,863

$
163,746

 
$
153,980

Common shareholder dividends
(27,571
)
 
(25,977
)
(55,650
)
 
(51,549
)
Unvested share-based payment awards
(205
)
 
(130
)
(308
)
 
(269
)
Undistributed earnings
$
53,085

 
$
60,756

$
107,787

 
$
102,162

Undistributed earnings allocated to common shareholders
52,690

 
60,446

107,098

 
101,677

Undistributed earnings allocated to unvested share-based payment awards
395

 
310

689

 
485

Undistributed earnings
$
53,085

 
$
60,756

$
107,787

 
$
102,162

Basic
 
 
 

 

Distributed earnings to common shareholders
$
27,571

 
$
25,977

$
55,650

 
$
51,549

Undistributed earnings allocated to common shareholders
52,690

 
60,446

107,098

 
101,677

Total common shareholders earnings, basic
$
80,261

 
$
86,423

$
162,748

 
$
153,226

Diluted
 
 
 

 

Distributed earnings to common shareholders
$
27,571

 
$
25,977

$
55,650

 
$
51,549

Undistributed earnings allocated to common shareholders
52,690

 
60,446

107,098

 
101,677

Total common shareholders earnings, diluted
$
80,261

 
$
86,423

$
162,748

 
$
153,226

Weighted average common shares outstanding
162,180

 
170,633

163,049

 
167,096

Effect of dilutive common stock awards
1,492

 
2,146

1,469

 
2,080

Effect of dilutive common stock warrants
—

 
630

—

 
744

Diluted weighted average common shares outstanding
163,672

 
173,409

164,518

 
169,920

Basic earnings per common share
$
0.49

 
$
0.51

$
1.00

 
$
0.92

Diluted earnings per common share
$
0.49

 
$
0.50

$
0.99

 
$
0.90


Anti-dilutive common stock options of approximately 4 million and 2 million for the three months ended June 30, 2019 and 2018, respectively, and 3 million and 1 million for the six months ended June 30, 2019 and 2018, respectively, were excluded from the earnings per common share calculation.