| Schedule of reconciliation of Registrant's net income and weighted average Common Shares outstanding for calculating basic net income per share |
| | | | | | | | | | | | | | | | | | Basic: | | For The Three Months Ended September 30, | | For The Nine Months Ended
September 30, | (in thousands, except per share amounts) | | 2017 | | 2016 | | 2017 | | 2016 | Net income | | $ | 21,006 |
| | $ | 21,639 |
| | 56,499 |
| | 48,531 |
| Less: (a) Distributed earnings to common shareholders | | 9,349 |
| | 8,189 |
| | 27,064 |
| | 24,558 |
| Distributed earnings to participating securities | | 50 |
| | 48 |
| | 139 |
| | 141 |
| Undistributed earnings | | 11,607 |
| | 13,402 |
| | 29,296 |
| | 23,832 |
| | | | | | | | | | (b) Undistributed earnings allocated to common shareholders | | 11,546 |
| | 13,323 |
| | 29,147 |
| | 23,696 |
| Undistributed earnings allocated to participating securities | | 61 |
| | 79 |
| | 149 |
| | 136 |
| | | | | | | | | | Total income available to common shareholders, basic (a)+(b) | | $ | 20,895 |
| | $ | 21,512 |
| | $ | 56,211 |
| | $ | 48,254 |
| | | | | | | | | | Weighted average Common Shares outstanding, basic | | 36,659 |
| | 36,561 |
| | 36,625 |
| | 36,546 |
| | | | | | | | | | Basic earnings per Common Share | | $ | 0.57 |
| | $ | 0.59 |
| | $ | 1.53 |
| | $ | 1.32 |
|
|
| Schedule of reconciliation of Registrant's net income and weighted average Common Shares outstanding for calculating diluted net income per share |
The following is a reconciliation of Registrant’s net income and weighted average Common Shares outstanding for calculating diluted net income per share: | | | | | | | | | | | | | | | | | | Diluted: | | For The Three Months Ended September 30, | | For The Nine Months Ended
September 30, | (in thousands, except per share amounts) | | 2017 | | 2016 | | 2017 | | 2016 | Common shareholders earnings, basic | | $ | 20,895 |
| | $ | 21,512 |
| | $ | 56,211 |
| | $ | 48,254 |
| Undistributed earnings for dilutive stock-based awards | | 61 |
| | 79 |
| | 149 |
| | 136 |
| Total common shareholders earnings, diluted | | $ | 20,956 |
| | $ | 21,591 |
| | $ | 56,360 |
| | $ | 48,390 |
| | | | | | | | | | Weighted average common shares outstanding, basic | | 36,659 |
| | 36,561 |
| | 36,625 |
| | 36,546 |
| Stock-based compensation (1) | | 197 |
| | 201 |
| | 188 |
| | 197 |
| Weighted average common shares outstanding, diluted | | 36,856 |
| | 36,762 |
| | 36,813 |
| | 36,743 |
| | | | | | | | | | Diluted earnings per Common Share | | $ | 0.57 |
| | $ | 0.59 |
| | $ | 1.53 |
| | $ | 1.32 |
|
(1) In applying the treasury stock method of reflecting the dilutive effect of outstanding stock-based compensation in the calculation of diluted EPS, 70,702 and 138,060 stock options at September 30, 2017 and 2016, respectively, were deemed to be outstanding in accordance with accounting guidance on earnings per share. All of the 195,457 and 216,733 restricted stock units at September 30, 2017 and 2016, respectively, were included in the calculation of diluted EPS for the three and nine months ended September 30, 2017 and 2016. |