XML 23 R12.htm IDEA: XBRL DOCUMENT v3.25.2
Net Income Per Common Share
6 Months Ended
Jun. 30, 2025
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)2025202420252024
Net income$125,408 $121,229 $270,067 $241,513 
Preferred dividends(4,033)(4,033)(8,067)(8,067)
Net income applicable to common shares$121,375 $117,196 $262,000 $233,446 
Weighted average common shares outstanding:
Weighted average common shares outstanding (basic)360,155 315,585 338,162 303,283 
Effect of dilutive securities:
Restricted stock1,281 876 2,088 924 
Weighted average diluted shares outstanding361,436 316,461 340,250 304,207 
Basic Net Income Per Common Share$0.34 $0.37 $0.78 $0.77 
Diluted Net Income Per Common Share$0.34 $0.37 $0.77 $0.77