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Net Income Per Common Share
9 Months Ended
Sep. 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
September 30,
Nine Months Ended
September 30,
(dollars and shares in thousands, except per share data)2025202420252024
Net income$182,567 $143,802 $452,634 $385,315 
Preferred dividends(4,034)(4,034)(12,101)(12,101)
Net income applicable to common shares$178,533 $139,768 $440,533 $373,214 
Weighted average common shares outstanding:
Weighted average common shares outstanding (basic)389,038 315,622 355,307 307,426 
Effect of dilutive securities:
Restricted stock1,458 1,709 1,971 1,179 
Weighted average diluted shares outstanding390,496 317,331 357,278 308,605 
Basic Net Income Per Common Share$0.46 $0.44 $1.24 $1.21 
Diluted Net Income Per Common Share$0.46 $0.44 $1.23 $1.21