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Earnings Per Share | 9 Months Ended
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Sep. 30, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | Note 3. Earnings Per Share The Company computes earnings per share (“EPS”) in accordance with FASB Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share. The Company has no participating unvested common shares which contain nonforfeitable rights to dividends and applies the treasury stock method in computing basic and diluted earnings per share. Basic EPS is calculated by dividing net income by the weighted-average number of common shares outstanding during the period. The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any outstanding options were exercised or restricted stock becomes vested.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
|  | (in thousands, except share and per share amounts) |
Basic EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 23,353 |  |  | $ | 21,386 |  |  | $ | 58,101 |  |  | $ | 58,676 |
Basic weighted average common shares |  |  | 19,299,921 |  |  |  | 19,256,069 |  |  |  | 19,282,263 |  |  |  | 19,243,689 |
Basic earnings per common share |  | $ | 1.21 |  |  | $ | 1.11 |  |  | $ | 3.01 |  |  | $ | 3.05 |
Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 23,353 |  |  | $ | 21,386 |  |  | $ | 58,101 |  |  | $ | 58,676 |
Diluted weighted average common shares: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares |  |  | 19,299,921 |  |  |  | 19,256,069 |  |  |  | 19,282,263 |  |  |  | 19,243,689 |
Stock options and restricted stock |  |  | 58,761 |  |  |  | 46,482 |  |  |  | 63,689 |  |  |  | 76,510 |
Diluted weighted average common shares |  |  | 19,358,682 |  |  |  | 19,302,551 |  |  |  | 19,345,952 |  |  |  | 19,320,199 |
Diluted earnings per common share |  | $ | 1.21 |  |  | $ | 1.11 |  |  | $ | 3.00 |  |  | $ | 3.04 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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