Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The net income available to common stockholders and weighted average number of common shares outstanding used to compute basic and diluted earnings per share for each class of common stock are as follows (in thousands, except per share amounts):


	Three months ended June 30,				Six months ended June 30,
	2021		2020		2021		2020
Distributed earnings	$	15,455	$	12,902	$	30,851	$	25,770
Undistributed earnings	21,154		17,046		38,086		32,857
Net income	$	36,609	$	29,948	$	68,937	$	58,627

Class A common stock:
Basic net income available to common stockholders	$	24,730	$	20,141	$	46,537	$	39,407
Basic weighted average common shares outstanding	27,434		27,082		27,376		27,037
Basic earnings per share	$	0.90	$	0.74	$	1.70	$	1.46

Diluted net income available to common stockholders	$	24,830	$	20,220	$	46,741	$	39,576
Effect of potential exercise of stock options	345		327		373		358
Diluted weighted average common shares outstanding	27,779		27,409		27,749		27,395
Diluted earnings per share	$	0.89	$	0.74	$	1.68	$	1.44

Class B common stock:
Basic net income available to common stockholders	$	11,879	$	9,807	$	22,400	$	19,220
Basic weighted average common shares outstanding	13,177		13,187		13,177		13,187
Basic earnings per share	$	0.90	$	0.74	$	1.70	$	1.46

Diluted net income available to common stockholders	$	11,779	$	9,728	$	22,196	$	19,051
Diluted weighted average common shares outstanding	13,177		13,187		13,177		13,187
Diluted earnings per share	$	0.89	$	0.74	$	1.68	$	1.44