Net Income per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Computation of the Company’s basic and diluted net income per share

The computation of the Company's basic and diluted net income per share is as follows:

	Three months ended September 30,						Nine months ended September 30,
	2019			2018			2019			2018
	(In thousands, except per share data)
Numerator for basic and diluted income per common share:
Net income	$	23,917		$	23,587		$	76,950		$	53,373
Less: Net income allocated to unvested participating restricted stock	(795		)	(799		)	(2,621		)	(1,793		)
Net income available to common stockholders - basic	23,122			22,788			74,329			51,580
Effect of unvested participating restricted stock in two-class calculation	6			7			28			8
Net income available to common stockholders - diluted	$	23,128		$	22,795		$	74,357		$	51,588
Denominator:
Weighted average outstanding shares of common stock - basic	16,762			17,439			17,095			17,562
Dilutive effect of stock options	293			299			337			235
Weighted average outstanding shares of common stock - diluted	17,055			17,738			17,432			17,797
Net income per common share:
Basic	$	1.38		$	1.31		$	4.35		$	2.94
Diluted	$	1.36		$	1.29		$	4.27		$	2.90