Calculation of Earnings Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Calculation of Earnings Per Share

Calculation of Earnings Per Share

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
(in thousands, except shares and per share data)
Calculation of Basic Earnings Per Share:
Net Income	$	9,407	$	9,662	$	61,884	$	63,646
Weighted average shares outstanding	17,796,741		17,737,984		17,783,787		17,715,845
Basic Earnings Per Share	$	0.53	$	0.54	$	3.48	$	3.59
Calculation of Diluted Earnings Per Share:
Net Income	$	9,407	$	9,662	$	61,884	$	63,646
Reconciliation of Denominator:
Weighted shares outstanding—Basic	17,796,741		17,737,984		17,783,787		17,715,845
Effect of dilutive securities—Share-based compensation	61,043		81,389		63,501		81,156
Adjusted denominator—Diluted	17,857,784		17,819,373		17,847,288		17,797,001
Diluted Earnings Per Share	$	0.53	$	0.54	$	3.47	$	3.58