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 reconciliation from basic to diluted average common shares and the calculations of net income per common share. Net income for basic and diluted calculations does not differ.

(in thousands, except per share amounts)	2020		2019		2018
Net income	$	56,630	$	62,906	$	73,486
Average common shares:
Basic (weighted-average outstanding shares)	11,782		11,729		11,660
Dilutive potential common shares from stock options	63		71		101
Diluted (weighted-average outstanding shares)	11,845		11,800		11,761
Basic earnings per share	$	4.81	$	5.36	$	6.30
Diluted earnings per share	$	4.78	$	5.33	$	6.25

Stock options totaling 9,864 shares in 2020, 4,244 shares in 2019, and 4,850 shares in 2018 were not included in the diluted earnings per share calculation because the effect would have been anti-dilutive.