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Earnings Per Share | 3 Months Ended
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Mar. 31, 2024
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 |
|  | March 31 |
(in thousands except per share data) |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |
Net income |  | $ | 18,679 |  |  | $ | 19,313 |
Denominator: |  |  |  |  |  |  |  |
Basic earnings per share: |  |  |  |  |  |  |  |
Weighted average shares |  |  | 17,926 |  |  |  | 17,872 |
Diluted earnings per share: |  |  |  |  |  |  |  |
Effect of dilutive stock options and restricted stock grants |  |  | 17 |  |  |  | 12 |
Adjusted weighted average shares |  |  | 17,943 |  |  |  | 17,884 |
Earnings per share: |  |  |  |  |  |  |  |
Basic earnings per share |  | $ | 1.04 |  |  | $ | 1.08 |
Diluted earnings per share |  |  | 1.04 |  |  |  | 1.08 |
There were no options to purchase common shares that were excluded from the diluted calculations above for the three months ended March 31, 2024 and 2023. 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.

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