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Earnings Per Share (Tables)
 9 Months Ended
Sep. 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 nine month periods ended September 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)
9/30/2019
 
9/30/2018
Basic
 
 
 
Net income available to common shareholders
$
20,206

 
$
20,902

Less: income attributable to unvested stock-based compensation awards
(317
)
 
(318
)
Net earnings allocated to common shareholders
19,889

 
20,584

 
 
 
 
Weighted average shares outstanding, including unvested stock-based compensation awards
15,063,202

 
15,278,661

 
 
 
 
Less: unvested stock-based compensation awards
(236,088
)
 
(231,256
)
Weighted average shares outstanding - Basic
14,827,114

 
15,047,405

 
 
 
 
Diluted
 
 
 
Net earnings allocated to common shareholders
19,889

 
20,584

 
 
 
 
Weighted average shares outstanding - Basic
14,827,114

 
15,047,405

 
 
 
 
Plus:  incremental shares from assumed conversion of stock-based compensation awards
60,512

 
97,086

Weighted average shares outstanding - Diluted
14,887,626

 
15,144,491

 
 
 
 
Basic EPS
$
1.34

 
$
1.37

Diluted EPS
1.34

 
1.36



 
Nine Months Ended
(In thousands, except share and per share data)
9/30/2019
 
9/30/2018
Basic
 
 
 
Net income available to common shareholders
$
60,638

 
$
63,397

Less: income attributable to unvested stock-based compensation awards
(972
)
 
(1,024
)
Net earnings allocated to common shareholders
59,666

 
62,373

 
 
 
 
Weighted average shares outstanding, including unvested stock-based compensation awards
15,204,170

 
15,277,026

 
 
 
 
Less: unvested stock-based compensation awards
(236,088
)
 
(244,020
)
Weighted average shares outstanding - Basic
14,968,082

 
15,033,006

 
 
 
 
Diluted
 
 
 
Net earnings allocated to common shareholders
59,666

 
62,373

 
 
 
 
Weighted average shares outstanding - Basic
14,968,082

 
15,033,006

 
 
 
 
Plus: incremental shares from assumed conversion of stock-based compensation awards
67,698

 
98,012

Weighted average shares outstanding - Diluted
15,035,780

 
15,131,018

 
 
 
 
Basic EPS
$
3.99

 
$
4.15

Diluted EPS
3.97

 
4.12