Earnings Per Share

9 Months Ended

Sep. 30, 2017

12.

Earnings Per Share

The following table sets forth the computation of 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, 2017 and 2016.


	Three Months Ended September 30,						Nine Months Ended September 30,
(Amounts in thousands, except share and per share amounts)	2017			2016			2017			2016
Net income		$	20,299		$	21,036		$	62,626		$	64,822


Weighted average shares outstanding – basic and diluted			5,115,982			5,114,701			5,115,339			5,113,877


Net income per common share – basic and diluted		$	3.97		$	4.11		$	12.24		$	12.68