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Earnings Per Common Share
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings Per Common Share Earnings per common share are calculated utilizing the two-class method. Basic earnings per common share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding. Diluted earnings per common share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding adjusted for the dilutive effect of common stock awards (outstanding stock options and unvested restricted stock awards). Presented below are the calculations for basic and diluted earnings per common share:
 Three Months Ended Sep 30,Nine Months Ended Sep 30,
 (In Thousands, except per share data)2022202120222021
Net income$96,275 $88,809 $257,360 $274,117 
Preferred stock dividends(2,875)(4,155)(8,625)(14,236)
Net income available to common equity$93,400 $84,655 $248,735 $259,880 
Common shareholder dividends(30,149)(30,323)(90,647)(85,604)
Unvested share-based payment awards(194)(222)(609)(634)
Undistributed earnings$63,057 $54,109 $157,479 $173,642 
Undistributed earnings allocated to common shareholders$62,648 $53,716 $156,454 $172,436 
Undistributed earnings allocated to unvested share-based payment awards409 393 1,025 1,206 
Undistributed earnings$63,057 $54,109 $157,479 $173,642 
Basic
Distributed earnings to common shareholders$30,149 $30,323 $90,647 $85,604 
Undistributed earnings allocated to common shareholders62,648 53,716 156,454 172,436 
Total common shareholders earnings, basic$92,796 $84,039 $247,102 $258,040 
Diluted
Distributed earnings to common shareholders$30,149 $30,323 $90,647 $85,604 
Undistributed earnings allocated to common shareholders62,648 53,716 156,454 172,436 
Total common shareholders earnings, diluted$92,796 $84,039 $247,102 $258,040 
Weighted average common shares outstanding149,321 150,046 149,063 151,473 
Effect of dilutive common stock awards942 1,096 1,141 1,228 
Diluted weighted average common shares outstanding150,262 151,143 150,205 152,701 
Basic earnings per common share$0.62 $0.56 $1.66 $1.70 
Diluted earnings per common share$0.62 $0.56 $1.65 $1.69 
Approximately 3 million anti-dilutive common stock options were excluded from the earnings per common share calculation for the three and nine months ended September 30, 2022 and 2021