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Earnings per Share
 3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Earnings per Share
Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share using the two class method (in thousands, except per share data): 
 
Three months ended March 31,
2018
2017
Net income available to common shareholders
$
17,616

$
16,026

Less: earnings allocated to participating securities
(195
)
(177
)
Net earnings allocated to common shareholders
$
17,421

$
15,849

 
 
 
Distributed earnings allocated to common stock
$
7,023

$
6,782

Undistributed earnings allocated to common stock
10,398

9,067

Net earnings allocated to common shareholders
$
17,421

$
15,849

 
 
 
Average shares outstanding
15,414

15,252

Effect of dilutive securities:
 
 
Employee stock awards
22

25

Shares for diluted earnings per share
15,436

15,277

 
 
 
Basic earnings per share
$
1.13

$
1.04

Diluted earnings per share
$
1.13

$
1.04



Options to purchase approximately 2,000 shares and 1,000 shares of common stock were outstanding
during the three months ended March 31, 2018 and 2017, respectively, but were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive.