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Earnings Per Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share
Note 9 – Earnings Per Share


The following table sets forth the computation of basic and diluted earnings per share:

 
Three Months Ended
September 30
    
Nine Months Ended
September 30
  
(in thousands except per share data)
  
2022
    
2021
    
2022
    
2021
  
Numerator:
                        
Net income
  
$
19,372
    
$
21,142
    
$
59,371
    
$
68,691
  
                                 
Denominator:
                                
Basic earnings per share:
                                
Weighted average shares
    
17,841
      
17,790
      
17,832
      
17,783
  
Diluted earnings per share:
                                
Effect of dilutive stock options and restricted stock grants
    
16
      
18
      
12
      
15
  
Adjusted weighted average shares
    
17,857
      
17,808
      
17,844
      
17,798
  
                                 
Earnings per share:
                                
Basic earnings per share
  
$
1.09
    
$
1.19
    
$
3.33
    
$
3.86
  
Diluted earnings per share
    
1.08
      
1.19
      
3.33
      
3.86
  


There were no options to purchase common shares that were excluded from the diluted calculations above for the three and nine months ended September 30, 2022 and 2021.  In addition to in-the-money stock options, unvested restricted stock grants were also used in the calculation of diluted earnings per share based on the treasury method.