| Components of Basic and Diluted Earnings Per Share |
The components of basic and diluted earnings per share were as follows for the three-month periods ended September 30, 2015 and 2014: | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | (In Thousands Except Share Data) | 2015 | | 2014 | | Basic | | Diluted | | Basic | | Diluted | Net income | $ | 19,534 |
| | $ | 19,534 |
| | $ | 325 |
| | $ | 325 |
| Weighted-average common shares outstanding | 25,067,080 |
| | 25,067,080 |
| | 25,188,381 |
| | 25,188,381 |
| Add dilutive effect of restricted stock awards | — |
| | 125,135 |
| | — |
| | 114,313 |
| Add dilutive effect of stock options | — |
| | 187,133 |
| | — |
| | 101,655 |
| Weighted-average common shares | 25,067,080 |
| | 25,379,348 |
| | 25,188,381 |
| | 25,404,349 |
| Earnings per common share | $ | 0.78 |
| | $ | 0.77 |
| | $ | 0.01 |
| | $ | 0.01 |
| Awards excluded from diluted earnings per share calculation(1) | — |
| | 260,035 |
| | — |
| | 868,020 |
|
| | (1) | Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive. |
The components of basic and diluted earnings per share were as follows for the nine-month periods ended September 30, 2015 and 2014: | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, | (In Thousands Except Share Data) | 2015 | | 2014 | | Basic | | Diluted | | Basic | | Diluted | Net income | $ | 58,231 |
| | $ | 58,231 |
| | $ | 24,341 |
| | $ | 24,341 |
| Weighted-average common shares outstanding | 25,027,382 |
| | 25,027,382 |
| | 25,295,842 |
| | 25,295,842 |
| Add dilutive effect of restricted stock awards | — |
| | 125,135 |
| | — |
| | 114,313 |
| Add dilutive effect of stock options | — |
| | 19,364 |
| | — |
| | 126,414 |
| Weighted-average common shares | 25,027,382 |
| | 25,171,881 |
| | 25,295,842 |
| | 25,536,569 |
| Earnings per common share | $ | 2.33 |
| | $ | 2.31 |
| | $ | 0.96 |
| | $ | 0.95 |
| Awards excluded from diluted earnings per share calculation(1) | — |
| | 410,425 |
| | — |
| | 889,080 |
|
| | (1) | Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive. |
|