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Earnings Per Share
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Diluted earnings per share is calculated using both the two-class and the treasury stock methods with the more dilutive method used to determine diluted earnings per share. The following table reconciles the numerators and denominators of basic and diluted earnings per share calculations for the periods presented.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(in thousands, except share and per share data)
2019
 
2018
 
2019
 
2018
Numerator for Earnings per Share—Basic:
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
26,936

 
 
$
30,881

 
 
$
75,965

 
 
$
78,480

Less: Income allocated to participating shares
 
72

 
 
87

 
 
204

 
 
229

Net Income Allocated to Shareholders
 
$
26,864

 
 
$
30,794

 
 
$
75,761

 
 
$
78,251

 
 
 
 
 
 
 
 
 
 
 
 
Numerator for Earnings per Share—Diluted:
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
26,936

 
 
$
30,881

 
 
$
75,965

 
 
$
78,480

Net Income Available to Shareholders
 
$
26,936

 
 
$
30,881

 
 
$
75,965

 
 
$
78,480

 
 
 
 
 
 
 
 
 
 
 
 
Denominators for Earnings per Share:
 
 
 
 
 
 
 
 
 
 
 
Weighted Average Shares Outstanding—Basic
 
34,090,779

 
 
34,799,174

 
 
34,221,479

 
 
34,783,175

Add: Potentially dilutive shares
 
79,502

 
 
220,118

 
 
105,746

 
 
228,909

Denominator for Treasury Stock Method—Diluted
 
34,170,281

 
 
35,019,292

 
 
34,327,225

 
 
35,012,084

 
 
 
 
 
 
 
 
 
 
 
 
Weighted Average Shares Outstanding—Basic
 
34,090,779

 
 
34,799,174

 
 
34,221,479

 
 
34,783,175

Add: Average participating shares outstanding
 
186,491

 
 
98,579

 
 
186,253

 
 
101,808

Denominator for Two-Class Method—Diluted
 
34,277,270

 
 
34,897,753

 
 
34,407,732

 
 
34,884,983

 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share—basic
 
$
0.79

 
 
$
0.89

 
 
$
2.22

 
 
$
2.26

Earnings per share—diluted
 
$
0.79

 
 
$
0.88

 
 
$
2.21

 
 
$
2.24

Warrants considered anti-dilutive excluded from potentially dilutive shares - exercise price $31.53 per share, expires January 2019 (1)
 
—

 
 
285,915

 
 
—

 
 
351,166

Restricted stock considered anti-dilutive excluded from potentially dilutive shares
 
254

 
 
113,451

 
 
360

 
 
113,390


(1) We repurchased our outstanding warrant on September 11, 2018 for $7.7 million. Prior to the repurchase, the warrant provided the holder the right to 517,012 shares of common stock at a strike price of $31.53 per share via cashless exercise.