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Net Income Per Common Share
 3 Months Ended
Mar. 31, 2024
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
March 31,
(dollars and shares in thousands, except per share data)20242023
Net income$120,284 $146,600 
Preferred dividends(4,034)(4,034)
Net income applicable to common shares$116,250 $142,566 
Weighted average common shares outstanding:
Weighted average common shares outstanding (basic)290,980 291,088 
Effect of dilutive securities:
Restricted stock1,227 1,666 
Stock appreciation rights— 2 
Weighted average diluted shares outstanding292,207 292,756 
Basic Net Income Per Common Share$0.40 $0.49 
Diluted Net Income Per Common Share$0.40 $0.49