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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

At December 31, 2019, the future estimated amortization expense for the CDI arising from our past acquisitions is as follows:

(in thousands)	2020			2021			2022			2023			2024			Thereafter			Total
Core deposit intangible amortization	$	853		$	818		$	782		$	719		$	422		$	1,090		$	4,684

Schedule of Earnings Per Share Reconciliation

The following table shows: 1) weighted average basic shares, 2) potentially dilutive weighted average common shares related to stock options and unvested restricted stock awards, and 3) weighted average diluted shares. Basic EPS are calculated by dividing net income by the weighted average number of common shares outstanding during each annual period, excluding unvested restricted stock awards. Diluted EPS are calculated using the weighted average number of potentially dilutive common shares. The number of potentially dilutive common shares included in year-to-date diluted EPS is a year-to-date weighted average of potentially dilutive common shares included in each quarterly diluted EPS computation. In computing diluted EPS, we exclude anti-dilutive shares such as options whose exercise prices exceed the current common stock price, as they would not reduce EPS under the treasury method. We have two forms of outstanding common stock: common stock and unvested restricted stock awards. Holders of unvested restricted stock awards receive non-forfeitable dividends at the same rate as common shareholders and they both share equally in undistributed earnings. Under the two-class method, the difference in EPS is nominal for these participating securities.

(in thousands, except per share data)1	2019			2018
Weighted average basic shares outstanding	13,620			13,864
Potentially dilutive common shares related to:
Stock options	148			136
Unvested restricted stock awards	26			29
Weighted average diluted shares outstanding	13,794			14,029
Net income	$	34,241		$	32,622
Basic EPS	$	2.51		$	2.35
Diluted EPS	$	2.48		$	2.33
Weighted average anti-dilutive shares not included in the calculation of diluted EPS	35			44

¹ Share and per share data have been adjusted to reflect the two-for-one stock split effective November 27, 2018.

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

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