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Earnings Per Share | 9 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHAREDiluted earnings per share is calculated using both the two-class and the treasury stock methods with the more dilutive method used to determine diluted earnings per share. The two-class method was used to determine earnings per share for the three and nine months ended September 30, 2022 and 2021. The following table reconciles the numerators and denominators of basic and diluted earnings per share calculations for the periods presented:
| Three months ended September 30, |  | Nine months ended September 30,
(in thousands, except share and per share data) | 2022 |  | 2021 |  | 2022 |  | 2021
Numerator for Earnings per Share—Basic and Diluted: |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 37,249 |  |  |  | $ | 27,598 |  |  |  | $ | 95,250 |  |  |  | $ | 87,866 |
Less: Income allocated to participating shares |  | 98 |  |  |  | 125 |  |  |  | 223 |  |  |  | 408 |
Net Income Allocated to Shareholders |  | $ | 37,151 |  |  |  | $ | 27,473 |  |  |  | $ | 95,027 |  |  |  | $ | 87,458 |
Denominator for Earnings per Share - Basic and Diluted: |  |  |  |  |  |  |  |  |  |  |
Weighted Average Shares Outstanding—Basic |  | 38,937,771 |  |  |  | 39,060,616 |  |  |  | 39,030,325 |  |  |  | 39,044,412 |
Add: Average participating shares outstanding |  | 37,374 |  |  |  | 1,464 |  |  |  | 18,826 |  |  |  | 458 |
Denominator for Two-Class Method—Diluted |  | 38,975,145 |  |  |  | 39,062,080 |  |  |  | 39,049,151 |  |  |  | 39,044,870 |
Earnings per share—basic |  | $ | 0.95 |  |  |  | $ | 0.71 |  |  |  | $ | 2.43 |  |  |  | $ | 2.25 |
Earnings per share—diluted |  | $ | 0.95 |  |  |  | $ | 0.70 |  |  |  | $ | 2.43 |  |  |  | $ | 2.24 |
Restricted stock considered anti-dilutive excluded from potentially dilutive shares |  | 655 |  |  |  | 163 |  |  |  | 1,027 |  |  |  | 615 |

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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 https://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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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