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EARNINGS PER SHARE (Tables) | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share | Earnings per share have been computed based on the following (average diluted shares outstanding are calculated using the treasury stock method):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands, except per share data) | 2024 |  | 2023 |  | 2024 |  | 2023
Net income | $ | 37,509 |  |  | $ | 19,545 |  |  | $ | 41,346 |  |  | $ | 71,043 |
Average number of common shares issued | 51,903 |  |  | 51,903 |  |  | 51,903 |  |  | 51,903 |
Less: average number of treasury shares | 8,919 |  |  | 7,916 |  |  | 8,645 |  |  | 7,675 |
Less: average number of unvested stock award shares | 814 |  |  | 823 |  |  | 802 |  |  | 793 |
Average number of basic shares outstanding | 42,170 |  |  | 43,164 |  |  | 42,456 |  |  | 43,435 |
Plus: dilutive effect of unvested stock award shares | 282 |  |  | 183 |  |  | 201 |  |  | 205 |
Plus: dilutive effect of stock options outstanding | 2 |  |  | — |  |  | 1 |  |  | — |
Average number of diluted shares outstanding | 42,454 |  |  | 43,347 |  |  | 42,658 |  |  | 43,640 |
Basic earnings per common share: | $ | 0.89 |  |  | $ | 0.45 |  |  | $ | 0.97 |  |  | $ | 1.64 |
Diluted earnings per common share: | $ | 0.88 |  |  | $ | 0.45 |  |  | $ | 0.97 |  |  | $ | 1.63 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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