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Earnings Per Share
 9 Months Ended
Sep. 30, 2023
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     Nine Months Ended  
 
September 30
    
September 30
  
(in thousands except per share data)
  
2023
    
2022
    
2023
    
2022
  
Numerator:
                        
Net income
  
$
20,628
    
$
19,372
    
$
59,345
    
$
59,371
  
                                 
Denominator:
                                
Basic earnings per share:
                                
Weighted average shares
    
17,893
      
17,841
      
17,882
      
17,832
  
Diluted earnings per share:
                                
Effect of dilutive stock options and restricted stock grants
    
11
      
16
      
10
      
12
  
Adjusted weighted average shares
    
17,904
      
17,857
      
17,892
      
17,844
  
                                 
Earnings per share:
                                
Basic earnings per share
  
$
1.15
    
$
1.09
    
$
3.32
    
$
3.33
  
Diluted earnings per share
    
1.15
      
1.08
      
3.32
      
3.33
  


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, 2023 and 2022. 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.