Earnings Per Share

9 Months Ended

Sep. 30, 2015

12. Earnings Per Share

The following table sets forth the computation of basic and diluted income per share, including a reconciliation of net income and the number of shares used in computing basic and diluted income per share. Basic income per share is determined using the weighted average shares of common stock outstanding during the period. Diluted income per share is determined using the weighted average shares of common stock outstanding during the period, and assumes all potentially dilutive securities were converted into common shares at the earliest date possible. There were no potentially dilutive securities outstanding during the three and nine months ended September 30, 2015 and 2014.

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
(Amounts in thousands, except share and per share amounts)		2015		2014		2015		2014
	Net income	$	18,172	$	17,692	$	53,335	$	49,764

	Weighted average shares outstanding – basic and diluted		5,113,077		5,111,201		5,112,108		5,110,435

	Net income per common share – basic and diluted	$	3.55	$	3.46	$	10.43	$	9.74