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Net Income Per Common Share | 6 Months Ended
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Jun. 30, 2022
Earnings Per Share [Abstract] |
Net Income Per Common Share | NET INCOME PER COMMON SHARE Basic and diluted net income per common share are calculated using the two-class method. Net income applicable to common shares is divided by the weighted-average number of common shares outstanding during the period. Adjustments to the weighted average number of common shares outstanding are made only when such adjustments will dilute net income per common share. Net income applicable to common shares is then divided by the weighted-average number of common shares and common share equivalents during the period. The following table presents the calculation of basic and diluted net income per common share:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars and shares in thousands, except per share data) | 2022 |  | 2021 |  | 2022 |  | 2021
Net income | $ | 114,985 |  |  | $ | 62,786 |  |  | $ | 87,399 |  |  | $ | 149,604 |
Preferred dividends | (4,033) |  |  | — |  |  | (6,050) |  |  | — |
Net income applicable to common shares | $ | 110,952 |  |  | $ | 62,786 |  |  | $ | 81,349 |  |  | $ | 149,604 |
Weighted average common shares outstanding: |  |  |  |  |  |  |
Weighted average common shares outstanding (basic) | 290,862 |  |  | 165,175 |  |  | 259,108 |  |  | 165,086 |
Effect of dilutive securities: |  |  |  |  |  |  |
Restricted stock | 1,014 |  |  | 737 |  |  | 1,136 |  |  | 713 |
Stock appreciation rights | 5 |  |  | 22 |  |  | 9 |  |  | 22 |
Weighted average diluted shares outstanding | 291,881 |  |  | 165,934 |  |  | 260,253 |  |  | 165,821 |
Basic Net Income Per Common Share | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 0.31 |  |  | $ | 0.91 |
Diluted Net Income Per Common Share | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 0.31 |  |  | $ | 0.90 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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