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Earnings Per Share
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The computations of basic and diluted earnings per share were as follows:
 
For the Years Ended December 31,
(in thousands, except per share data)
2019
 
2018
 
2017
Earnings per common share - Basic
 
 
 
 
 
Net income
$
384,155

 
$
370,249

 
$
142,413

Preferred stock dividends
(12,602
)
 
(9,095
)
 
(9,095
)
Dividends and undistributed earnings allocated to unvested restricted shares
(3,559
)
 
(3,583
)
 
(1,210
)
Earnings allocated to common shareholders - basic
$
367,994

 
$
357,571

 
$
132,108

Weighted average common shares outstanding
52,826

 
55,008

 
50,640

Earnings per common share - basic
6.97

 
6.50

 
2.61

 
 
 
 
 
 
Earnings per common share - Diluted
 
 
 
 
 
Earnings allocated to common shareholders - basic
$
367,994

 
$
357,571

 
$
132,108

Dividends and undistributed earnings allocated to unvested restricted shares
6

 
(49
)
 
(1
)
Earnings allocated to common shareholders - diluted
$
368,000

 
$
357,522

 
$
132,107

Weighted average common shares outstanding
52,826

 
55,008

 
50,640

Dilutive potential common shares
327

 
352

 
352

Weighted average common shares outstanding - diluted
53,153

 
55,360

 
50,992

Earnings per common share - diluted
$
6.92

 
$
6.46

 
$
2.59


For the years ended December 31, 2019, 2018, and 2017, the calculations for basic shares outstanding exclude the weighted average shares owned by the RRP of 512,969, 564,973, and 467,601, respectively.
The effects from the assumed exercises of 152,416, 154,397, and 71,260 stock options were not included in the computation of diluted earnings per share for the years ended December 31, 2019, 2018, and 2017, respectively, because they were antidilutive.