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Earnings Per Share
 12 Months Ended
Dec. 31, 2020
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,
202020192018
Net income available to common shareholders$89,595 $89,352 $70,002 
Less: earnings allocated to participating securities(887)(806)(654)
Net earnings allocated to common shareholders$88,708 $88,546 $69,348 
Distributed earnings allocated to common shares outstanding$35,745 $35,542 $32,483 
Undistributed earnings allocated to common shares outstanding
52,963 53,004 36,865 
Net earnings allocated to common shareholders
$88,708 $88,546 $69,348 
Average shares outstanding, basic15,975 16,314 15,421 
Effect of dilutive securities
20 19 18 
Average shares outstanding, diluted
15,995 16,333 15,439 
Basic earnings per share
$5.55 $5.43 $4.50 
Diluted earnings per share
$5.55 $5.42 $4.49 

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.