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Earnings Per Share
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
 
Earnings per share in the table below, for the three month periods ended March 31, 2022 and 2021 are calculated under the two-class method as required by ASC Topic 260, Earnings Per Share (ASC 260). 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)3/31/20223/31/2021
Basic
Net income available to common shareholders$23,273 $25,626 
Less: income attributable to unvested stock-based compensation awards(76)(186)
Net earnings allocated to common shareholders23,197 25,440 
Weighted average shares outstanding, including unvested stock-based compensation awards14,611,709 14,912,502 
Less: average unvested stock-based compensation awards(211,706)(236,092)
Weighted average shares outstanding - Basic14,400,003 14,676,410 
Diluted
Net earnings allocated to common shareholders23,197 25,440 
Weighted average shares outstanding - Basic14,400,003 14,676,410 
Plus:  incremental shares from assumed conversion of stock-based compensation awards78,180 81,148 
Weighted average shares outstanding - Diluted14,478,183 14,757,558 
Basic EPS$1.61 $1.73 
Diluted EPS$1.60 $1.72 

Stock-based compensation awards representing 1,848 and 15,983 of common shares during the three months ended March 31, 2022 and 2021, respectively, were not included in the computations of diluted earnings per common share because the effect on those periods would have been anti-dilutive.