Earnings Per Share

6 Months Ended

Jun. 30, 2016

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 six months ended June 30, 2016 and 2015.

		Three Months Ended				Six Months Ended
		June 30,				June 30,
(Amounts in thousands, except share and per share amounts)		2016		2015		2016		2015
	Net income	$	21,767	$	17,341	$	43,786	$	35,163

	Weighted average shares outstanding – basic and diluted		5,113,844		5,112,026		5,113,461		5,111,616

	Net income per common share – basic and diluted	$	4.26	$	3.39	$	8.56	$	6.88