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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2022
Stockholders' Equity Note [Abstract] |
Schedule of earnings per share reconciliation | The following table illustrates the weighted average shares used for earnings per common share computations for the periods indicated:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (In thousands, except shares)
Net income: |  |  |  |  |
Net income | $ | 81,875 |  |  | $ | 98,035 |  |  | $ | 46,570 |
Dividends and undistributed earnings allocated to participating securities (1) | — |  |  | — |  |  | (7) |
Net income allocated to common shareholders | $ | 81,875 |  |  | $ | 98,035 |  |  | $ | 46,563 |
Basic: |  |  |  |  |
Weighted average common shares outstanding | 35,103,465 |  |  | 35,677,851 |  |  | 36,018,627 |
Restricted stock awards | — |  |  | — |  |  | (4,182) |
Total basic weighted average common shares outstanding | 35,103,465 |  |  | 35,677,851 |  |  | 36,014,445 |
Diluted: |  |  |  |  |
Basic weighted average common shares outstanding | 35,103,465 |  |  | 35,677,851 |  |  | 36,014,445 |
Effect of potentially dilutive common shares (2) | 360,431 |  |  | 295,535 |  |  | 155,621 |
Total diluted weighted average common shares outstanding | 35,463,896 |  |  | 35,973,386 |  |  | 36,170,066 |
Potentially dilutive shares that were excluded from the computation of diluted earnings per share because to do so would be anti-dilutive (3) | 872 |  |  | 7,043 |  |  | 137,093 |
(1) Represents dividends paid and undistributed earnings allocated to unvested restricted stock awards. (2) Represents the effect of the assumed exercise of stock options and vesting of restricted stock awards and units. (3) Anti-dilution occurs when the exercise price of a stock option or the unrecognized compensation cost per share of a restricted stock award or unit exceeds the market price of the Company’s stock.
Schedule of dividends activity | The following table summarizes the dividend activity during the most recent three year period:
Declared |  | Cash Dividend per Share |  | Record Date |  | Paid Date |  |
January 22, 2020 |  | $0.20 |  | February 6, 2020 |  | February 20, 2020 |  |
April 29, 2020 |  | $0.20 |  | May 13, 2020 |  | May 27, 2020 |  |
July 22, 2020 |  | $0.20 |  | August 5, 2020 |  | August 19, 2020 |  |
October 21, 2020 |  | $0.20 |  | November 4, 2020 |  | November 18, 2020 |  |
January 27, 2021 |  | $0.20 |  | February 10, 2021 |  | February 24, 2021 |  |
April 21, 2021 |  | $0.20 |  | May 5, 2021 |  | May 19, 2021 |  |
July 21, 2021 |  | $0.20 |  | August 4, 2021 |  | August 18, 2021 |  |
October 20, 2021 |  | $0.21 |  | November 3, 2021 |  | November 17, 2021 |  |
January 26, 2022 |  | $0.21 |  | February 9, 2022 |  | February 23, 2022 |  |
April 20, 2022 |  | $0.21 |  | May 4, 2022 |  | May 18, 2022 |  |
July 20, 2022 |  | $0.21 |  | August 3, 2022 |  | August 17, 2022 |  |
October 19, 2022 |  | $0.21 |  | November 2, 2022 |  | November 16, 2022 |  |
Total repurchased shares and average share prices | The following table provides total repurchased shares and average share prices under the applicable plans for the periods indicated:
| Year Ended December 31, |  |
| 2022 |  | 2021 |  | 2020 |  | Plan Total(1)
Eleventh Stock Repurchase Plan |  |  |  |  |  |  |
Repurchased shares | — |  |  | — |  |  | 639,922 |  |  | 1,512,600 |
Stock repurchase average share price | $ | — |  |  | $ | — |  |  | $ | 23.95 |  |  | $ | 21.69 |
Twelfth Stock Repurchase Plan |  |  |  |  |  |  |
Repurchased shares | 100,090 |  |  | 904,972 |  |  | 155,778 |  |  | 1,160,840 |
Stock repurchase average share price | $ | 25.07 |  |  | $ | 24.43 |  |  | $ | 20.34 |  |  | $ | 23.94 |
(1)Represents shares repurchased and average price per share paid during the duration of each plan.
Schedule of repurchased shares | The following table provides total shares repurchased to pay withholding taxes during the periods indicated:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Repurchased shares to pay withholding taxes | 26,944 |  |  | 26,869 |  |  | 28,887 |
Stock repurchase to pay withholding taxes average share price | $ | 25.52 |  |  | $ | 29.10 |  |  | $ | 21.57 |

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