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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2020

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, 2020 and 2019 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)			9/30/2020						9/30/2019
Basic
Net income available to common shareholders			$	24,230					$	20,206
Less: income attributable to unvested stock-based compensation awards			(278)						(317)
Net earnings allocated to common shareholders			23,952						19,889
Weighted average shares outstanding, including unvested stock-based compensation awards			14,920,924						15,063,202
Less: average unvested stock-based compensation awards			(223,392)						(236,088)
Weighted average shares outstanding - Basic			14,697,532						14,827,114
Diluted
Net earnings allocated to common shareholders			23,952						19,889
Weighted average shares outstanding - Basic			14,697,532						14,827,114
Plus:  incremental shares from assumed conversion of stock-based compensation awards			30,209						60,512
Weighted average shares outstanding - Diluted			14,727,741						14,887,626
Basic EPS			$	1.63					$	1.34
Diluted EPS			$	1.63					$	1.34

			Nine Months Ended
(In thousands, except share and per share data)			9/30/2020						9/30/2019
Basic
Net income available to common shareholders			$	53,610					$	60,638
Less: income attributable to unvested stock-based compensation awards			(628)						(972)
Net earnings allocated to common shareholders			52,982						59,666
Weighted average shares outstanding, including unvested stock-based compensation awards			14,929,628						15,204,170
Less: unvested stock-based compensation awards			(230,181)						(236,088)
Weighted average shares outstanding - Basic			14,699,447						14,968,082
Diluted
Net earnings allocated to common shareholders			52,982						59,666
Weighted average shares outstanding - Basic			14,699,447						14,968,082
Plus: incremental shares from assumed conversion of stock-based compensation awards			39,474						67,698
Weighted average shares outstanding - Diluted			14,738,921						15,035,780
Basic EPS			$	3.60					$	3.99
Diluted EPS			$	3.59					$	3.97

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- References

No definition available.

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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