Common Stock (Tables)

6 Months Ended

Jun. 30, 2019

Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Basic and Diluted Earnings Per Share. The basic and diluted earnings per share are presented below (in thousands except for share data):
	Three Months Ended June 30,
	2019			2018
Weighted average number of common shares outstanding:
Basic number of common shares outstanding	40,602,343			40,517,713
Dilutive effect of unvested performance awards	93,664			130,086
Diluted number of common shares outstanding	40,696,007			40,647,799
Basic net income per common share:
Net income	$	26,126		$	33,295
Income allocated to participating restricted stock	(95		)	(124		)
Net income available to common shareholders	$	26,031		$	33,171
Diluted net income per common share:
Net income	$	26,126		$	33,295
Income reallocated to participating restricted stock	(95		)	(124		)
Net income available to common shareholders	$	26,031		$	33,171
Basic net income per common share:
Distributed earnings	$	0.385		$	0.36
Undistributed earnings	0.255			0.46
Basic net income per common share	$	0.640		$	0.82
Diluted net income per common share:
Distributed earnings	$	0.385		$	0.36
Undistributed earnings	0.255			0.46
Diluted net income per common share	$	0.640		$	0.82

	Six Months Ended June 30,
	2019			2018
Weighted average number of common shares outstanding:
Basic number of common shares outstanding	40,592,693			40,504,526
Dilutive effect of unvested performance awards	87,241			113,519
Diluted number of common shares outstanding	40,679,934			40,618,045
Basic net income per common share:
Net income	$	32,215		$	26,329
Income allocated to participating restricted stock	(111		)	(98		)
Net income available to common shareholders	$	32,104		$	26,231
Diluted net income per common share:
Net income	$	32,215		$	26,329
Income reallocated to participating restricted stock	(111		)	(98		)
Net income available to common shareholders	$	32,104		$	26,231
Basic net income per common share:
Distributed earnings	$	0.745		$	0.695
Undistributed earnings (losses)	0.045			(0.045		)
Basic net income per common share	$	0.790		$	0.650
Diluted net income per common share:
Distributed earnings	$	0.745		$	0.695
Undistributed earnings (losses)	0.045			(0.045		)
Diluted net income per common share	$	0.790		$	0.650

	Twelve Months Ended June 30,
	2019			2018
Weighted average number of common shares outstanding:
Basic number of common shares outstanding	40,565,007			40,467,231
Dilutive effect of unvested performance awards	108,137			126,818
Diluted number of common shares outstanding	40,673,144			40,594,049
Basic net income per common share:
Net income	$	90,201		$	92,513
Income allocated to participating restricted stock	(313		)	(336		)
Net income available to common shareholders	$	89,888		$	92,177
Diluted net income per common share:
Net income	$	90,201		$	92,513
Income reallocated to participating restricted stock	(313		)	(336		)
Net income available to common shareholders	$	89,888		$	92,177
Basic net income per common share:
Distributed earnings	$	1.465		$	1.365
Undistributed earnings	0.755			0.915
Basic net income per common share	$	2.220		$	2.280
Diluted net income per common share:
Distributed earnings	$	1.465		$	1.365
Undistributed earnings	0.745			0.905
Diluted net income per common share	$	2.210		$	2.270

Schedule of Antidilutive Securities Excluded From Computation Of Earnings Per Share

The number of restricted stock awards and performance shares at 100% performance level excluded from the calculation of the diluted number of common shares outstanding because their effect was antidilutive is presented below:
	Three Months Ended		Six Months Ended		Twelve Months Ended
	June 30,		June 30,		June 30,
	2019	2018	2019	2018	2019	2018
Restricted stock awards	46,276	55,368	54,441	63,793	58,159	65,432
Performance shares (a)	—	—	21,826	22,989	22,234	11,494

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(a)

Certain performance shares were excluded from the computation of diluted earnings per share as no payouts would have been required based upon performance at the end of each corresponding period.