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Earnings Per Share
 12 Months Ended
Dec. 31, 2021
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,
202120202019
Net income available to common shareholders$88,080 $89,595 $89,352 
Less: earnings allocated to participating securities(843)(887)(806)
Net earnings allocated to common shareholders$87,237 $88,708 $88,546 
Distributed earnings allocated to common shares outstanding$34,901 $35,745 $35,542 
Undistributed earnings allocated to common shares outstanding
52,336 52,963 53,004 
Net earnings allocated to common shareholders
$87,237 $88,708 $88,546 
Average shares outstanding, basic15,381 15,975 16,314 
Effect of dilutive securities
26 20 19 
Average shares outstanding, diluted
15,407 15,995 16,333 
Basic earnings per share
$5.67 $5.55 $5.43 
Diluted earnings per share
$5.66 $5.55 $5.42 

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.