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Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Schedule of basic and diluted earnings per share
Earnings per share in the table below, for the three and six month periods ended June 30, 2017 and 2016 are calculated under the two-class method as required by ASC Topic 260, Earnings Per Share. ASC 260 provides that unvested share-based payment awards that contain nonforfeitable rights to dividends are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. The Company has issued restricted stock awards that contain such rights and are therefore considered participating securities. Basic earnings per common share are calculated by dividing net income allocable to common stock by the weighted average number of common shares, excluding participating securities, during the period. Diluted earnings per common share include the dilutive effect of participating securities.
 
 
Three Months Ended
(in thousands, except share and per share data)
6/30/2017
 
6/30/2016
Basic
 

 
 

Net income available to common shareholders
$
16,926

 
$
14,833

Less: income attributable to unvested stock-based compensation awards
(266
)
 
(228
)
Net earnings allocated to common shareholders
16,660

 
14,605

 
 
 
 
Weighted average shares outstanding, including unvested stock-based compensation awards
15,184,835

 
15,027,648

 
 
 
 
Less: unvested stock-based compensation awards
(239,901
)
 
(229,133
)
Weighted average shares outstanding - Basic
14,944,934

 
14,798,515

 
 
 
 
Diluted
 

 
 

Net earnings allocated to common shareholders
16,660

 
14,605

 
 
 
 
Weighted average shares outstanding - Basic
14,944,934

 
14,798,515

 
 
 
 
Plus:  incremental shares from assumed conversion of stock-based compensation awards
121,927

 
118,691

 
 
 
 
Weighted average shares outstanding - Diluted
15,066,861

 
14,917,206

 
 
 
 
Basic EPS
1.11

 
0.99

Diluted EPS
1.11

 
0.98

 
Six Months Ended
(in thousands, except share and per share data)
6/30/2017
 
6/30/2016
Basic
 

 
 

Net income available to common shareholders
$
32,642

 
$
29,084

Less: income attributable to unvested stock-based compensation awards
(527
)
 
(458
)
Net earnings allocated to common shareholders
32,115

 
28,626

 
 
 
 
Weighted average shares outstanding, including unvested stock-based compensation awards
15,168,310

 
15,014,991

 
 
 
 
Less: unvested stock-based compensation awards
(245,242
)
 
(235,595
)
Weighted average shares outstanding - Basic
14,923,068

 
14,779,396

 
 
 
 
Diluted
 

 
 

Net earnings allocated to common shareholders
32,115

 
28,626

 
 
 
 
Weighted average shares outstanding - Basic
14,923,068

 
14,779,396

 
 
 
 
Plus: incremental shares from assumed conversion of stock-based compensation awards
131,802

 
103,016

 
 
 
 
Weighted average shares outstanding - Diluted
15,054,870

 
14,882,412

 
 
 
 
Basic EPS
2.15

 
1.94

Diluted EPS
2.13

 
1.92