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Earnings per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
The following table sets forth the computation of basic and diluted earnings per share using the two class method (in thousands, except per share data): 
Three months ended September 30,Nine months ended September 30,
2024202320242023
Net income available to common shareholders$29,809 $29,839 $88,447 $86,913 
Less: earnings allocated to participating securities(278)(281)(823)(813)
Net earnings allocated to common shareholders$29,531 $29,558 $87,624 $86,100 
Distributed earnings allocated to common stock$11,506 $10,554 $32,333 $29,744 
Undistributed earnings allocated to common stock18,025 19,004 55,291 56,356 
Net earnings allocated to common shareholders$29,531 $29,558 $87,624 $86,100 
Average shares outstanding14,633 14,922 14,691 14,906 
Effect of dilutive securities:  
Employee stock awards21 23 20 22 
Shares for diluted earnings per share14,654 14,945 14,711 14,928 
Basic earnings per share$2.02 $1.98 $5.96 $5.78 
Diluted earnings per share$2.02 $1.98 $5.96 $5.77 
Anti-dilutive options are not included in the computation of diluted earnings per share because the options’ exercise price are greater than the average market price of the common shares and therefore, the effect is anti-dilutive. The Company had no anti-dilutive options for any of the periods shown above.