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Earnings Per Common Share | 9 Months Ended
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Sep. 30, 2020
Earnings Per Share [Abstract] |
Earnings Per Common Share | Earnings Per Common Share The following table sets forth the computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2020 and 2019.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands, except share and per common share data) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Numerator: |  |  |  |  |  |  |  |
Net income |  | $ | 30,846 |  |  | $ | 31,146 |  |  | $ | 82,723 |  |  | $ | 78,764 |
Denominator: |  |  |  |  |  |  |  |
Weighted-average common shares outstanding |  | 16,300,720 |  |  | 16,382,798 |  |  | 16,300,250 |  |  | 16,198,294 |
Effect of dilutive PBRSUs and TBRSUs |  | 93,072 |  |  | 92,943 |  |  | 98,100 |  |  | 89,401 |
Weighted-average common shares outstanding adjusted for the effect of dilutive PBRSUs and TBRSUs |  | 16,393,792 |  |  | 16,475,741 |  |  | 16,398,350 |  |  | 16,287,695 |
Earnings per common share: |  |  |  |  |  |  |  |
Basic earnings per common share |  | $ | 1.89 |  |  | $ | 1.90 |  |  | $ | 5.07 |  |  | $ | 4.86 |
Diluted earnings per common share |  | $ | 1.88 |  |  | $ | 1.89 |  |  | $ | 5.04 |  |  | $ | 4.84 |
Park awarded 62,265 and 58,740 PBRSUs to certain employees during the nine months ended September 30, 2020 and 2019, respectively. No PBRSUs were awarded during either of the three months ended September 30, 2020 or 2019. On April 1, 2019, Park issued 1,037,205 common shares to complete the Carolina Alliance acquisition and granted 15,700 TBRSUs to Carolina Alliance Division employees. These common shares have been included in average common shares outstanding beginning on that date. Park repurchased 84,603 common shares during the three months ended September 30, 2019, to fund the PBRSUs, TBRSUs and common shares to be awarded to directors of Park and to directors of Park's subsidiary PNB (and its divisions) and pursuant to Park's previously announced stock repurchase authorizations. Park repurchased 76,000 and 421,253 common shares during the nine months ended September 30, 2020 and 2019, respectively, to fund the PBRSUs, TBRSUs and common shares to be awarded to directors of Park's subsidiary PNB (and its divisions) and pursuant to Park's previously announced stock repurchase authorizations. No common shares were repurchased during the three months ended September 30, 2020.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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