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Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2021

Basic and Diluted Earnings Per Common Share

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,
		2021		2020
Net income		$	116,015	$	54,753
Less: Preferred stock dividends		2,151		2,016
Redemption of preferred stock		—		5,514
Net income available to common shareholders		113,864		47,223
Less: Earnings allocated to participating securities		1,162		445
Net earnings allocated to common stock		$	112,702	$	46,778

Distributed earnings allocated to common stock		$	45,660	$	44,512
Undistributed earnings allocated to common stock		67,042		2,266
Net earnings allocated to common stock		$	112,702	$	46,778

Weighted-average shares outstanding for basic earnings per common share		63,306,493		62,642,682
Dilutive effect of stock compensation		509,290		407,154
Weighted-average shares outstanding for diluted earnings per common share		63,815,783		63,049,836