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Earnings Per Share
 9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Earnings Per Share
Note 9 – Earnings Per Share


The following table sets forth the computation of basic and diluted earnings per share:

  
Three Months Ended
September 30
    
Nine Months Ended
September 30
  
(in thousands except per share data)
  
2021
    
2020
    
2021
    
2020
  
Numerator:
                        
Net income
  
$
21,142
    
$
17,447
    
$
68,691
    
$
43,678
  
                                 
Denominator:
                                
Basic earnings per share:
                                
Weighted average shares
    
17,790
      
17,746
      
17,783
      
17,746
  
Diluted earnings per share:
                                
Effect of dilutive stock options and restricted stock grants
    
18
      
6
      
15
      
7
  
Adjusted weighted average shares
    
17,808
      
17,752
      
17,798
      
17,753
  
                                 
Earnings per share:
                                
Basic earnings per share
  
$
1.19
    
$
0.98
    
$
3.86
    
$
2.46
  
Diluted earnings per share
    
1.19
      
0.98
      
3.86
      
2.46
  


There were no options to purchase common shares that were excluded from the diluted calculations above for the three and nine months ended September 30, 2021 and 2020.  In addition to in-the-money stock options, unvested restricted stock grants were also used in the calculation of diluted earnings per share based on the treasury method.