Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share

13. Earnings Per Share

We use the two-class method of calculating earnings per share (which we refer to as “EPS”) as our non-vested restricted stock awards have non-forfeitable rights to dividends and, accordingly, represent a participating security. The two-class method is an earnings allocation method under which EPS is calculated for each class of common stock and participating security considering both dividends declared (or accumulated) and participation rights in undistributed earnings as if all such earnings had been distributed during the period.

The following table sets forth the computation of basic and diluted EPS for the three months ended March31, 2015 and 2014 (in thousands, except share and per share information):

	Three Months Ended
	March 31,
	2015		2014
Numerator
Net income	$	6,351	$	3,368
Less: Undistributed earnings allocated to participating securities		(185)		(36)
Numerator for basic and diluted EPS	$	6,166	$	3,332
Denominator
Basic and diluted EPS—weighted average shares		20,509,679		17,075,000
Basic and diluted EPS	$	0.30	$	0.20