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Earnings Per Share
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Earnings Per Share
Note 9 – Earnings Per Share


The following table sets forth the computation of basic and diluted earnings per share:

  
Three Months Ended
June 30
    
Six Months Ended
June 30
  
(in thousands except per share data)
  
2020
    
2019
    
2020
    
2019
  
Numerator:
                        
Net income
  
$
19,652
    
$
18,324
    
$
26,231
    
$
33,263
  
                                 
Denominator:
                                
Basic earnings per share:
                                
Weighted average shares
    
17,739
      
17,721
      
17,746
      
17,717
  
Diluted earnings per share:
                                
Effect of dilutive stock options and restricted stock grants
    
3
      
12
      
7
      
11
  
Adjusted weighted average shares
    
17,742
      
17,733
      
17,753
      
17,728
  
                                 
Earnings per share:
                                
Basic earnings per share
  
$
1.11
    
$
1.03
    
$
1.48
    
$
1.88
  
Diluted earnings per share
    
1.11
      
1.03
      
1.48
      
1.88
  



There were no options to purchase common shares that were excluded from the diluted calculations above for the three and six months ended June 30, 2020 and 2019.  In addition to in-the-money stock options, unvested restricted stock grants were also used in the calculation of diluted earnings per share based on the treasury method.