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Earnings Per Common Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Common Share | Earnings Per Common Share See Note 1 for the Corporation’s accounting policy on earnings per common share. Presented below are the calculations for basic and diluted earnings per common share:
| For the Years Ended December 31,
($ in thousands, except per share data) | 2024 | 2023 | 2022
Net income | $ | 123,145 |  | $ | 182,956 |  | $ | 366,122 |
Preferred stock dividends | (11,500) |  | (11,500) |  | (11,500) |
Net income available to common equity | $ | 111,645 |  | $ | 171,456 |  | $ | 354,622 |
Common shareholder dividends | $ | (138,508) |  | $ | (128,748) |  | $ | (122,417) |
Unvested share-based payment awards | (689) |  | (785) |  | (720) |
Undistributed earnings | $ | (27,552) |  | $ | 41,922 |  | $ | 231,485 |
Undistributed earnings allocated to common shareholders | $ | (27,552) |  | $ | 41,675 |  | $ | 229,995 |
Undistributed earnings allocated to unvested share-based payment awards | — |  | 247 |  | 1,490 |
Undistributed earnings | $ | (27,552) |  | $ | 41,922 |  | $ | 231,485 |
Basic |  |  |
Distributed earnings to common shareholders | $ | 138,508 |  | $ | 128,748 |  | $ | 122,417 |
Undistributed earnings allocated to common shareholders | (27,552) |  | 41,675 |  | 229,995 |
Total common shareholders earnings, basic | $ | 110,956 |  | $ | 170,424 |  | $ | 352,412 |
Diluted |  |  |
Distributed earnings to common shareholders | $ | 138,508 |  | $ | 128,748 |  | $ | 122,417 |
Undistributed earnings allocated to common shareholders | (27,552) |  | 41,675 |  | 229,995 |
Total common shareholders earnings, diluted | $ | 110,956 |  | $ | 170,424 |  | $ | 352,412 |
Weighted average common shares outstanding | 151,933 |  | 149,968 |  | 149,162 |
Effect of dilutive common stock awards | 1,415 |  | 892 |  | 1,334 |
Diluted weighted average common shares outstanding | 153,347 |  | 150,860 |  | 150,496 |
Basic earnings per common share | $ | 0.73 |  | $ | 1.14 |  | $ | 2.36 |
Diluted earnings per common share | $ | 0.72 |  | $ | 1.13 |  | $ | 2.34 |
Excluded from the earnings per common share calculation were 2 million anti-dilutive common stock options for the year ended December 31, 2024, and 3 million and 2 million anti-dilutive common stock options were excluded from the earnings per share calculations for the years ended December 31, 2023 and 2022, respectively.

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