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Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2019
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, 2019 and 2018 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)
6/30/2019
 
6/30/2018
Basic
 
 
 
Net income available to common shareholders
$
19,392

 
$
22,059

Less: income attributable to unvested stock-based compensation awards
(306
)
 
(359
)
Net earnings allocated to common shareholders
19,086

 
21,700

 
 
 
 
Weighted average shares outstanding, including unvested stock-based compensation awards
15,262,216

 
15,280,412

 
 
 
 
Less: unvested stock-based compensation awards
(242,506
)
 
(242,351
)
Weighted average shares outstanding - Basic
15,019,710

 
15,038,061

 
 
 
 
Diluted
 
 
 
Net earnings allocated to common shareholders
19,086

 
21,700

 
 
 
 
Weighted average shares outstanding - Basic
15,019,710

 
15,038,061

 
 
 
 
Plus:  incremental shares from assumed conversion of stock-based compensation awards
66,235

 
97,909

Weighted average shares outstanding - Diluted
15,085,945

 
15,135,970

 
 
 
 
Basic EPS
$
1.27

 
$
1.44

Diluted EPS
1.27

 
1.43



 
Six Months Ended
(In thousands, except share and per share data)
6/30/2019
 
6/30/2018
Basic
 
 
 
Net income available to common shareholders
$
40,432

 
$
42,495

Less: income attributable to unvested stock-based compensation awards
(655
)
 
(706
)
Net earnings allocated to common shareholders
39,777

 
41,789

 
 
 
 
Weighted average shares outstanding, including unvested stock-based compensation awards
15,287,783

 
15,276,194

 
 
 
 
Less: unvested stock-based compensation awards
(247,983
)
 
(250,402
)
Weighted average shares outstanding - Basic
15,039,800

 
15,025,792

 
 
 
 
Diluted
 
 
 
Net earnings allocated to common shareholders
39,777

 
41,789

 
 
 
 
Weighted average shares outstanding - Basic
15,039,800

 
15,025,792

 
 
 
 
Plus: incremental shares from assumed conversion of stock-based compensation awards
71,292

 
98,475

Weighted average shares outstanding - Diluted
15,111,092

 
15,124,267

 
 
 
 
Basic EPS
$
2.64

 
$
2.78

Diluted EPS
2.63

 
2.76