Earnings Per Share

The following is a summary of the Company’s earnings per share calculations and reconciliation of basic to diluted earnings per share for the periods indicated (in thousands, except share data):



	December 31,
	2017		2016		2015
Net income available to common stockholders	$	24,768	$	26,130	$	19,531

Weighted average shares outstanding-basic	45,325,445		44,374,389		42,285,712
Effect of non-vested restricted stock and stock options outstanding	1,550,285		1,343,498		1,192,769
Weighted average shares outstanding-diluted	46,875,730		45,717,887		43,478,481
Earnings per share-basic	$	0.55	$	0.59	$	0.46
Earnings per share-diluted	$	0.53	$	0.57	$	0.45
Anti-dilutive shares	334,927		777,733		2,679,507

Diluted earnings per share is computed using the same method as basic earnings per share, but reflects the potential dilution that could occur if stock options and unvested shares of restricted stock were exercised and converted into common stock. These potentially dilutive shares would then be included in the weighted average number of shares outstanding for the period using the treasury stock method. The Company adopted ASU No. 2016-09 effective January 1, 2017. The most significant impact of the amended guidance resulted in recognition of excess tax benefits within income tax expense, which resulted in an increase to net income and earnings per share. In addition, the guidance increases average diluted shares, since the Company no longer includes such excess tax benefits in the calculation of diluted shares. For further discussion, see Note 1 - “Summary of Significant Accounting Policies - Net Income per Common Share”.