Calculation of Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Calculation of Earnings Per Share

Calculation of Earnings Per Share

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
(in thousands, except shares and per share data)
Calculation of Basic Earnings Per Share:
Net Income	$	9,662	$	12,475	$	63,646	$	60,754
Weighted average shares outstanding	17,737,984		17,582,115		17,715,845		17,538,461
Basic Earnings Per Share	$	0.54	$	0.71	$	3.59	$	3.46
Calculation of Diluted Earnings Per Share:
Net Income	$	9,662	$	12,475	$	63,646	$	60,754
Reconciliation of Denominator:
Weighted shares outstanding—Basic	17,737,984		17,582,115		17,715,845		17,538,461
Effect of dilutive securities—Share-based compensation	81,389		77,528		81,156		71,697
Adjusted denominator—Diluted	17,819,373		17,659,643		17,797,001		17,610,158
Diluted Earnings Per Share	$	0.54	$	0.71	$	3.58	$	3.45