Calculation of Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Earnings Per Share

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
(in thousands, except shares and per share data)
Calculation of Basic Earnings Per Share:
Income from Continuing Operations	$	6,245		$	6,090		$	43,977		$	39,118
Loss from Discontinued Operations	(624		)	(552		)	(1,388		)	(339		)
Net Income	$	5,621		$	5,538		$	42,589		$	38,779
Weighted average shares outstanding	16,403,776			16,378,545			16,396,646			16,366,608
Earnings from Continuing Operations	$	0.38		$	0.37		$	2.68		$	2.39
Earnings from Discontinued Operations	(0.04		)	(0.03		)	(0.08		)	(0.02		)
Basic Earnings Per Share	$	0.34		$	0.34		$	2.60		$	2.37
Calculation of Diluted Earnings Per Share:
Reconciliation of Numerator:
Income from Continuing Operations	$	6,245		$	6,090		$	43,977		$	39,118
Loss from Discontinued Operations	(624		)	(552		)	(1,388		)	(339		)
Net Income	$	5,621		$	5,538		$	42,589		$	38,779
Reconciliation of Denominator:
Weighted shares outstanding—Basic	16,403,776			16,378,545			16,396,646			16,366,608
Effect of dilutive securities—Share-based compensation	50,091			49,894			47,585			49,647
Adjusted denominator—Diluted	16,453,867			16,428,439			16,444,231			16,416,255
Diluted Earnings Per Share from Continuing Operations	$	0.38		$	0.37		$	2.67		$	2.38
Diluted Earnings Per Share from Discontinued Operations	(0.04		)	(0.03		)	(0.08		)	(0.02		)
Diluted Earnings Per Share	$	0.34		$	0.34		$	2.59		$	2.36