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Earnings Per Share | 3 Months Ended
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Mar. 31, 2024
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 three months ended March 31, 2024 and the treasury stock method was used to determined earnings per share for the three months ended March 31, 2023. The following table reconciles the numerators and denominators of basic and diluted EPS calculations for the periods presented:
| Three months ended March 31, |  |
(in thousands, except share and per share data) | 2024 |  | 2023 |  |  |  |  |  |  |
Numerator for Earnings per Share—Basic and Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income—Treasury Stock Method—Basic and Diluted |  | $ | 31,239 |  |  |  | $ | 39,799 |  |  |  |  |  |  |  |  |  |
Less: Income allocated to participating shares |  | 12 |  |  |  | 45 |  |  |  |  |  |  |  |  |  |
Net Income Allocated to Shareholders—Two-Class Method—Basic and Diluted |  | $ | 31,227 |  |  |  | $ | 39,754 |  |  |  |  |  |  |  |  |  |
Denominator for Earnings per Share—Treasury Stock Method—Basic and Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted Average Shares Outstanding—Basic |  | 38,192,235 |  |  |  | 38,865,669 |  |  |  |  |  |  |  |  |  |
Add: Potentially dilutive shares |  | 239,514 |  |  |  | 166,393 |  |  |  |  |  |  |  |  |  |
Denominator for Treasury Stock Method—Diluted |  | 38,431,749 |  |  |  | 39,032,062 |  |  |  |  |  |  |  |  |  |
Denominator for Earnings per Share—Two-Class Method—Basic and Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted Average Shares Outstanding—Basic |  | 38,192,235 |  |  |  | 38,865,669 |  |  |  |  |  |  |  |  |  |
Add: Average participating shares outstanding |  | 225,850 |  |  |  | 108,991 |  |  |  |  |  |  |  |  |  |
Denominator for Two-Class Method—Diluted |  | 38,418,085 |  |  |  | 38,974,660 |  |  |  |  |  |  |  |  |  |
Earnings per share—basic |  | $ | 0.82 |  |  |  | $ | 1.02 |  |  |  |  |  |  |  |  |  |
Earnings per share—diluted |  | $ | 0.81 |  |  |  | $ | 1.02 |  |  |  |  |  |  |  |  |  |
Restricted stock considered anti-dilutive excluded from potentially dilutive shares |  | 71 |  |  |  | 1,133 |  |  |  |  |  |  |  |  |  |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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