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Earnings per Share
 6 Months Ended
Jun. 30, 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 June 30,
Six months ended June 30,
2018
2017
2018
2017
Net income available to common shareholders
$
20,979

$
14,688

$
38,590

$
30,714

Less: earnings allocated to participating securities
(211
)
(158
)
(377
)
(333
)
Net earnings allocated to common shareholders
$
20,768

$
14,530

$
38,213

$
30,381

 
 
 
 
 
Distributed earnings allocated to common stock
$
7,039

$
6,797

$
14,077

$
13,594

Undistributed earnings allocated to common stock
13,729

7,733

24,136

16,787

Net earnings allocated to common shareholders
$
20,768

$
14,530

$
38,213

$
30,381

 
 
 
 
 
Average shares outstanding
15,326

15,462

15,370

15,344

Effect of dilutive securities:
 

 

 
 
Employee stock awards
19

25

20

25

Shares for diluted earnings per share
15,345

15,487

15,390

15,369

 
 
 
 
 
Basic earnings per share
$
1.36

$
0.94

$
2.49

$
1.98

Diluted earnings per share
$
1.35

$
0.94

$
2.48

$
1.98



Options to purchase approximately 1,000 shares and 3,000 shares of common stock were outstanding during the six months ended June 30, 2018 and 2017, respectively, but were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive.