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Earnings Per Share
 12 Months Ended
Dec. 31, 2023
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,
202320222021
Net income available to common shareholders$114,365 $102,071 $88,080 
Less: earnings allocated to participating securities(1,036)(958)(843)
Net earnings allocated to common shareholders$113,329 $101,113 $87,237 
Distributed earnings allocated to common shares outstanding$40,121 $36,619 $34,901 
Undistributed earnings allocated to common shares outstanding
73,208 64,494 52,336 
Net earnings allocated to common shareholders
$113,329 $101,113 $87,237 
Average shares outstanding, basic14,868 14,847 15,381 
Effect of dilutive securities
23 26 26 
Average shares outstanding, diluted
14,891 14,873 15,407 
Basic earnings per share
$7.62 $6.81 $5.67 
Diluted earnings per share
$7.61 $6.80 $5.66 

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.