Calculation of Earnings Per Share

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Calculation of Earnings Per Share

Calculation of Earnings Per Share

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
(in thousands, except shares and per share data)
Calculation of Basic Earnings Per Share:
Net Income	$	6,833	$	4,416	$	32,023	$	32,812
Weighted average shares outstanding	16,344,442		15,372,413		16,334,210		15,324,932
Basic Earnings Per Share	$	0.42	$	0.29	$	1.96	$	2.14
Calculation of Diluted Earnings Per Share:
Reconciliation of Numerator:
Net Income	$	6,833	$	4,416	$	32,023	$	32,812
Reconciliation of Denominator:
Weighted shares outstanding—Basic	16,344,442		15,372,413		16,334,210		15,324,932
Effect of dilutive securities—Share-based compensation	45,193		40,370		44,423		41,023
Adjusted denominator—Diluted	16,389,635		15,412,783		16,378,633		15,365,955
Diluted Earnings Per Share	$	0.42	$	0.29	$	1.96	$	2.14