Earnings per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings per Share

lowing 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,
	2019			2018
Net income available to common shareholders	$	21,619		$	17,616
Less: earnings allocated to participating securities	(186		)	(195		)
Net earnings allocated to common shareholders	$	21,433		$	17,421
Distributed earnings allocated to common stock	$	8,661		$	7,023
Undistributed earnings allocated to common stock	12,772			10,398
Net earnings allocated to common shareholders	$	21,433		$	17,421
Average shares outstanding	16,411			15,414
Effect of dilutive securities:
Employee stock awards	18			22
Shares for diluted earnings per share	16,429			15,436
Basic earnings per share	$	1.31		$	1.13
Diluted earnings per share	$	1.30		$	1.13
Anti-dilutive options	—			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.