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Earnings Per Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE Earnings per share is calculated using both the two-class and the treasury stock methods with the more dilutive method used to determine reported basic and diluted earnings per share. The two-class method was more dilutive in 2024, 2023 and 2022 and therefore was used to determine earnings per share. 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) |  |  |  |  | 2024 |  | 2023 |  |  | 2022
Numerator for Earnings per Share—Basic and Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  |  |  |  |  |  |  | $ | 131,265 |  |  |  | $ | 144,781 |  |  |  | $ | 135,520 |
Less: Income allocated to participating shares |  |  |  |  |  |  |  | 13 |  |  |  | 156 |  |  |  | 381 |
Net Income Allocated to Shareholders |  |  |  |  |  |  |  | $ | 131,252 |  |  |  | $ | 144,625 |  |  |  | $ | 135,139 |
Denominator for Earnings per Share—Two-Class Method: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted Average Shares Outstanding—Basic |  |  |  |  |  |  |  | 38,237,531 |  |  |  | 38,432,447 |  |  |  | 38,988,174 |
Add: Average participating shares outstanding |  |  |  |  |  |  |  | 286,157 |  |  |  | 222,958 |  |  |  | 42,760 |
Denominator for Two-Class Method—Diluted |  |  |  |  |  |  |  | 38,523,688 |  |  |  | 38,655,405 |  |  |  | 39,030,934 |
Earnings per share—basic |  |  |  |  |  |  |  | $ | 3.43 |  |  |  | $ | 3.76 |  |  |  | $ | 3.47 |
Earnings per share—diluted |  |  |  |  |  |  |  | $ | 3.41 |  |  |  | $ | 3.74 |  |  |  | $ | 3.46 |
Restricted stock considered anti-dilutive excluded from potentially dilutive shares |  |  |  |  |  |  |  | 190 |  |  |  | 293 |  |  |  | 12,654 |

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