Calculation of Earnings Per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Calculation of Earnings Per Share

Calculation of Earnings Per Share

	Three Months Ended
	March 31,
	2019		2018
(in thousands, except shares and per share data)
Calculation of Basic Earnings Per Share:
Net Income	$	28,664	$	26,855
Weighted average shares outstanding	16,384,927		16,351,338
Basic Earnings Per Share	$	1.75	$	1.64
Calculation of Diluted Earnings Per Share:
Reconciliation of Numerator:
Net Income	$	28,664	$	26,855
Reconciliation of Denominator:
Weighted shares outstanding—Basic	16,384,927		16,351,338
Effect of dilutive securities—Share-based compensation	47,925		51,647
Adjusted denominator—Diluted	16,432,852		16,402,985
Diluted Earnings Per Share	$	1.74	$	1.64