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Earnings Per Common Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common Share

Earnings per common share is computed using the two-class method. Basic earnings per common share is computed by dividing net earnings allocated to common stock by the weighted-average number of common shares outstanding during the applicable period, excluding outstanding participating securities. Participating securities include non-vested stock awards/stock units and deferred stock units, though no actual shares of common stock related to non-vested stock units and deferred stock units have been issued. Non-vested stock awards/stock units and deferred stock units are considered participating securities because holders of these securities receive non-forfeitable dividends at the same rate as holders of our common stock. Diluted earnings per common share is computed using the weighted-average number of shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method.

The following table presents a reconciliation of net income available to common shareholders, net earnings allocated to common stock and the number of shares used in the calculation of basic and diluted earnings per common share.

	Three Months Ended   March 31,
	2015				2014
Net income	$	72,163			$	61,188
Less: Preferred stock dividends	2,016				2,016
Net income available to common shareholders	70,147				59,172
Less: Earnings allocated to participating securities	237				226
Net earnings allocated to common stock	$	69,910			$	58,946
Distributed earnings allocated to common stock	$	32,179			$	30,371
Undistributed earnings allocated to common stock	37,731				28,575
Net earnings allocated to common stock	$	69,910			$	58,946
Weighted-average shares outstanding for basic earnings per common share	63,094,391				60,701,280
Dilutive effect of stock compensation	685,043				886,260
Weighted-average shares outstanding for diluted earnings per common share	63,779,434				61,587,540

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

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Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

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-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256



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-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

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-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258



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-Publisher FASB

-Name Accounting Standards Codification

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