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Earnings Per Share | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE Diluted EPS is calculated using both the two-class and the treasury stock methods with the more dilutive method used to determine diluted EPS. The two-class method was used to determine EPS for the twelve months ended December 31, 2023, 2022 and 2021. The following table reconciles the numerators and denominators of basic and diluted EPS calculations for the periods presented:
|  |  | Twelve months ended December 31,
(in thousands, except share and per share data) |  |  |  |  | 2023 |  | 2022 |  |  | 2021
Numerator for Earnings per Share—Basic and Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  |  |  |  |  |  |  | $ | 144,781 |  |  |  | $ | 135,520 |  |  |  | $ | 110,343 |
Less: Income allocated to participating shares |  |  |  |  |  |  |  | 156 |  |  |  | 381 |  |  |  | 492 |
Net Income Allocated to Shareholders |  |  |  |  |  |  |  | $ | 144,625 |  |  |  | $ | 135,139 |  |  |  | $ | 109,851 |
Denominator for Earnings per Share—Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted Average Shares Outstanding—Basic |  |  |  |  |  |  |  | 38,432,447 |  |  |  | 38,988,174 |  |  |  | 39,050,241 |
Denominator for Earnings per Share—Two-Class Method—Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted Average Shares Outstanding—Basic |  |  |  |  |  |  |  | 38,432,447 |  |  |  | 38,988,174 |  |  |  | 39,050,241 |
Add: Average participating shares outstanding |  |  |  |  |  |  |  | 222,958 |  |  |  | 42,760 |  |  |  | 2,720 |
Denominator for Two-Class Method—Diluted |  |  |  |  |  |  |  | 38,655,405 |  |  |  | 39,030,934 |  |  |  | 39,052,961 |
Earnings per share—basic |  |  |  |  |  |  |  | $ | 3.76 |  |  |  | $ | 3.47 |  |  |  | $ | 2.81 |
Earnings per share—diluted |  |  |  |  |  |  |  | $ | 3.74 |  |  |  | $ | 3.46 |  |  |  | $ | 2.81 |
Restricted stock considered anti-dilutive excluded from potentially dilutive shares |  |  |  |  |  |  |  | 293 |  |  |  | 12,654 |  |  |  | 793 |

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