Earnings per common share is computed using the two-class method as more fully described in our 2024 Form 10-K. 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 June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Net income	$	157,003	$	145,499	$	307,925	$	281,189
Less: Preferred stock dividends	1,669		1,669		3,338		3,338
Net income available to common shareholders	155,334		143,830		304,587		277,851
Less: Earnings allocated to participating securities	1,492		1,693		2,956		3,334
Net earnings allocated to common stock	$	153,842	$	142,137	$	301,631	$	274,517

Distributed earnings allocated to common stock	$	64,310	$	59,108	$	125,377	$	118,188
Undistributed earnings allocated to common stock	89,532		83,029		176,254		156,329
Net earnings allocated to common stock	$	153,842	$	142,137	$	301,631	$	274,517

Weighted-average shares outstanding for basic earnings per common share	64,299,943		64,192,907		64,277,718		64,204,615
Dilutive effect of stock compensation	51,837		140,280		62,481		147,693
Weighted-average shares outstanding for diluted earnings per common share	64,351,780		64,333,187		64,340,199		64,352,308