XML 31 R19.htm IDEA: XBRL DOCUMENT v3.19.2
Earnings per Share
 6 Months Ended
Jun. 30, 2019
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,
2019
2018
2019
2018
Net income available to common shareholders
$
22,751

$
20,979

$
44,370

$
38,590

Less: earnings allocated to participating securities
(197
)
(211
)
(382
)
(377
)
Net earnings allocated to common shareholders
$
22,554

$
20,768

$
43,988

$
38,213

 
 
 
 
 
Distributed earnings allocated to common stock
$
8,615

$
7,039

$
17,231

$
14,077

Undistributed earnings allocated to common stock
13,939

13,729

26,757

24,136

Net earnings allocated to common shareholders
$
22,554

$
20,768

$
43,988

$
38,213

 
 
 
 
 
Average shares outstanding
16,368

15,326

16,390

15,370

Effect of dilutive securities:
 

 

 
 
Employee stock awards
18

19

18

20

Shares for diluted earnings per share
16,386

15,345

16,408

15,390

 
 
 
 
 
Basic earnings per share
$
1.38

$
1.36

$
2.68

$
2.49

Diluted earnings per share
$
1.38

$
1.35

$
2.68

$
2.48



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. Anti-dilutive options were not significant for the periods shown above.