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Earnings Per Common Share
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings Per Common Share
The following table summarizes the calculation of basic and diluted earnings per common share:
 Three months ended June 30,Six months ended June 30,
(In thousands, except per share data)2025202420252024
Net income$258,848 $181,633 $485,765 $397,956 
Less: Preferred stock dividends4,162 4,162 8,325 8,325 
  Income allocated to participating securities2,991 1,977 5,361 4,090 
Net income applicable to common stockholders$251,695 $175,494 $472,079 $385,541 
Weighted-average common shares outstanding - basic165,884 169,675 167,524 170,061 
Add: Effect of dilutive stock options and restricted stock247 262 329 290 
Weighted-average common shares - diluted166,131 169,937 167,853 170,351 
Earnings per common share - basic$1.52 $1.03 $2.82 $2.27 
Earnings per common share - diluted1.52 1.03 2.81 2.26 
Earnings per common share is calculated under the two-class method in which all earnings, distributed and undistributed, are allocated to common stock and participating securities based on their respective rights to receive dividends. The Company may provide for the grant of stock options, restricted stock, performance-based restricted stock, and stock units to eligible employees and directors under its stock incentive plan. Holders of restricted stock are entitled to receive non-forfeitable dividends during the vesting period on a basis equivalent to the dividends paid to holders of common stock. These unvested awards meet the definition of participating securities.
Potential common shares from performance-based restricted stock that were not included in the computation of diluted earnings per common share because they were anti-dilutive under the treasury stock method were 147,168 and zero for the three and six months ended June 30, 2025, and respectively, and 80,115 and zero for the three and six months ended June 30, 2024, respectively. Additional information regarding stock awards under the Company’s stock incentive plan can be found within Note 20: Share-Based Plans in the Notes to Consolidated Financial Statements contained in Part II - Item 8. Financial Statements and Supplementary Data of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.