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Earnings per Share
 9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
The following table sets forth the computation of basic and diluted earnings per share using the two class method (in thousands, except per share data): 
Three months ended September 30,Nine months ended September 30,
2020201920202019
Net income available to common shareholders$20,126 $22,371 $67,374 $66,741 
Less: earnings allocated to participating securities(198)(192)(658)(567)
Net earnings allocated to common shareholders$19,928 $22,179 $66,716 $66,174 
Distributed earnings allocated to common stock$8,944 $9,213 $26,832 $26,346 
Undistributed earnings allocated to common stock10,984 12,966 39,884 39,828 
Net earnings allocated to common shareholders$19,928 $22,179 $66,716 $66,174 
Average shares outstanding15,950 16,271 16,065 16,350 
Effect of dilutive securities:  
Employee stock awards20 18 19 18 
Shares for diluted earnings per share15,970 16,289 16,084 16,368 
Basic earnings per share$1.25 $1.36 $4.15 $4.05 
Diluted earnings per share$1.25 $1.36 $4.15 $4.04 
Anti-dilutive options are not included in the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common shares and therefore, the effect would have been anti-dilutive. Anti-dilutive options were not significant for any of the periods shown above.