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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Schedule of basic and diluted earnings per share
Earnings per share in the table below, for the three and nine month periods ended September 30, 2018 and 2017 are calculated under the two-class method as required by ASC Topic 260, Earnings Per Share. ASC 260 provides that unvested share-based payment awards that contain nonforfeitable rights to dividends are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. The Company has issued restricted stock awards that contain such rights and are therefore considered participating securities. Basic earnings per common share are calculated by dividing net income allocable to common stock by the weighted average number of common shares, excluding participating securities, during the period. Diluted earnings per common share include the dilutive effect of participating securities.
 
 
Three Months Ended
(in thousands, except share and per share data)
9/30/2018
 
9/30/2017
Basic
 
 
 
Net income available to common shareholders
$
20,902

 
$
17,394

Less: income attributable to unvested stock-based compensation awards
(318
)
 
(266
)
Net earnings allocated to common shareholders
20,584

 
17,128

 
 
 
 
Weighted average shares outstanding, including unvested stock-based compensation awards
15,278,661

 
15,197,180

 
 
 
 
Less: unvested stock-based compensation awards
(231,256
)
 
(230,949
)
Weighted average shares outstanding - Basic
15,047,405

 
14,966,231

 
 
 
 
Diluted
 
 
 
Net earnings allocated to common shareholders
20,584

 
17,128

 
 
 
 
Weighted average shares outstanding - Basic
15,047,405

 
14,966,231

 
 
 
 
Plus:  incremental shares from assumed conversion of stock-based compensation awards
97,086

 
112,324

Weighted average shares outstanding - Diluted
15,144,491

 
15,078,555

 
 
 
 
Basic EPS
1.37

 
1.14

Diluted EPS
1.36

 
1.14

 
Nine Months Ended
(in thousands, except share and per share data)
9/30/2018
 
9/30/2017
Basic
 
 
 
Net income available to common shareholders
$
63,397

 
$
50,037

Less: income attributable to unvested stock-based compensation awards
(1,024
)
 
(792
)
Net earnings allocated to common shareholders
62,373

 
49,245

 
 
 
 
Weighted average shares outstanding, including unvested stock-based compensation awards
15,277,026

 
15,178,039

 
 
 
 
Less: unvested stock-based compensation awards
(244,020
)
 
(240,478
)
Weighted average shares outstanding - Basic
15,033,006

 
14,937,561

 
 
 
 
Diluted
 
 
 
Net earnings allocated to common shareholders
62,373

 
49,245

 
 
 
 
Weighted average shares outstanding - Basic
15,033,006

 
14,937,561

 
 
 
 
Plus: incremental shares from assumed conversion of stock-based compensation awards
98,012

 
125,309

Weighted average shares outstanding - Diluted
15,131,018

 
15,062,870

 
 
 
 
Basic EPS
4.15

 
3.30

Diluted EPS
4.12

 
3.27