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Earnings Per Share
 12 Months Ended
Dec. 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 (in thousands, except per share data):
 
 
For the Year Ended December 31,
 
2018
2017
2016
 
 
 
 
Net income available to common shareholders
$
70,002

$
54,310

$
52,128

Less: earnings allocated to participating securities
(654
)
(591
)
(623
)
Net earnings allocated to common shareholders
$
69,348

$
53,719

$
51,505

 
 
 
 
Distributed earnings allocated to common shares outstanding
$
32,483

$
27,497

$
25,710

Undistributed earnings allocated to common shares outstanding
36,865

26,222

25,795

Net earnings allocated to common shareholders
$
69,348

$
53,719

$
51,505

 
 
 
 
Average shares outstanding, basic
15,421

15,412

14,900

Effect of dilutive securities
18

24

13

Average shares outstanding, diluted
15,439

15,436

14,913

 
 
 
 
Basic earnings per share
$
4.50

$
3.49

$
3.46

Diluted earnings per share
$
4.49

$
3.48

$
3.45

 
 
 
 
Antidilutive options
—

3

2



Anti-dilutive options are not included in the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common shares and therefore, the effect would have been anti-dilutive.