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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Calculation of Basic and Diluted Earnings per Share

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

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

(in thousands, except per share data)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Net income

 

$

20,412

 

 

$

18,829

 

 

$

46,763

 

 

$

47,010

 

Denominator for basic earnings per share – weighted-average
   number of common shares outstanding during the period

 

 

35,647

 

 

 

35,151

 

 

 

35,535

 

 

 

35,184

 

Incremental common shares attributable to exercise of dilutive
   options

 

 

4

 

 

 

13

 

 

 

5

 

 

 

15

 

Incremental common shares attributable to outstanding restricted stock units

 

 

225

 

 

 

184

 

 

 

339

 

 

 

405

 

Denominator for diluted earnings per share

 

 

35,876

 

 

 

35,348

 

 

 

35,879

 

 

 

35,604

 

Basic earnings per share

 

$

0.57

 

 

$

0.54

 

 

$

1.32

 

 

$

1.34

 

Diluted earnings per share

 

$

0.57

 

 

$

0.53

 

 

$

1.30

 

 

$

1.32