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Earnings Per Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The computations of basic and diluted earnings per share were as follows:
 
Three Months Ended March 31,
(in thousands, except per share data)
2020
 
2019
Earnings Per Common Share - Basic:
 
 
 
Net income
$
36,425

 
$
100,131

Preferred stock dividends
(3,598
)
 
(3,598
)
Dividends and undistributed earnings allocated to unvested restricted shares
(367
)
 
(933
)
Earnings allocated to common shareholders - basic
$
32,460

 
$
95,600

Weighted average common shares outstanding
51,979

 
54,177

Earnings per common share - basic
$
0.62

 
$
1.76

Earnings Per Common Share - Diluted:
 
 
 
Earnings allocated to common shareholders - basic
$
32,460

 
$
95,600

Adjustment for undistributed earnings allocated to unvested restricted shares
(3
)
 
(42
)
Earnings allocated to common shareholders - diluted
$
32,457

 
$
95,558

Weighted average common shares outstanding
51,979

 
54,177

Dilutive potential common shares
217

 
362

Weighted average common shares outstanding - diluted
52,196

 
54,539

Earnings per common share - diluted
$
0.62

 
$
1.75


For the three months ended March 31, 2020 and 2019, the calculations for basic shares outstanding excluded weighted average shares owned by the RRP of 608,128 and 564,188, respectively.
The effects from the assumed exercises of 517,900 and 155,757 stock options were not included in the computation of diluted earnings per share for the three months ended March 31, 2020 and 2019, respectively, because they were anti-dilutive.