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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Schedule of basic and diluted earnings per share
Earnings per share in the table below, for the three month periods ended March 31, 2023 and 2022 are calculated under the two-class method as required by ASC Topic 260, Earnings Per Share (ASC 260). ASC 260 provides that unvested share-based payment awards that contain nonforfeitable rights to dividends are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. The Company has issued restricted stock awards that contain such rights and are therefore considered participating securities. Basic earnings per common share are calculated by dividing net income allocable to common stock by the weighted average number of common shares, excluding participating securities, during the period. Diluted earnings per common share include the dilutive effect of participating securities.
 
Three Months Ended
(In thousands, except share and per share data)03/31/202303/31/2022
Basic
Net income available to common shareholders$19,381 $23,273 
Less: income attributable to unvested stock-based compensation awards(18)(76)
Net earnings allocated to common shareholders19,363 23,197 
Weighted average shares outstanding, including unvested stock-based compensation awards14,520,092 14,611,709 
Less: average unvested stock-based compensation awards(193,497)(211,706)
Weighted average shares outstanding - Basic14,326,595 14,400,003 
Diluted
Net earnings allocated to common shareholders19,363 23,197 
Weighted average shares outstanding - Basic14,326,595 14,400,003 
Plus: incremental shares from assumed conversion of stock-based compensation awards63,078 78,180 
Weighted average shares outstanding - Diluted14,389,673 14,478,183 
Basic EPS$1.35 $1.61 
Diluted EPS$1.35 $1.60