XML 18 R32.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Earnings Per Share
 12 Months Ended
Dec. 31, 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 (in thousands, except per share data):
 
 
For the Year Ended December 31,
 
2019
2018
2017
 
 
 
 
Net income available to common shareholders
$
89,352

$
70,002

$
54,310

Less: earnings allocated to participating securities
(806
)
(654
)
(591
)
Net earnings allocated to common shareholders
$
88,546

$
69,348

$
53,719

 
 
 
 
Distributed earnings allocated to common shares outstanding
$
35,542

$
32,483

$
27,497

Undistributed earnings allocated to common shares outstanding
53,004

36,865

26,222

Net earnings allocated to common shareholders
$
88,546

$
69,348

$
53,719

 
 
 
 
Average shares outstanding, basic
16,314

15,421

15,412

Effect of dilutive securities
19

18

24

Average shares outstanding, diluted
16,333

15,439

15,436

 
 
 
 
Basic earnings per share
$
5.43

$
4.50

$
3.49

Diluted earnings per share
$
5.42

$
4.49

$
3.48



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 any of the periods shown above.