Earnings Per Share

9 Months Ended

Sep. 30, 2015

For the quarters and nine months ended September 30, 2015 and 2014, basic earnings per share were computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Unexercised stock options and unvested restricted shares are excluded from this calculation but are included in the diluted earnings per share calculation using the treasury stock method as long as their effect is not antidilutive.

The following table provides a reconciliation of weighted-average shares used to determine basic and diluted earnings per share.



	Quarter Ended September 30,		Nine Months Ended September 30,
In thousands	2015	2014	2015	2014
Basic average common shares outstanding	16,715	16,684	16,744	16,615
Effect of dilutive options and restricted stock awards	313	359	341	352
Diluted average common shares outstanding	17,028	17,043	17,085	16,967

For the quarter ended September 30, 2015, stock options for 0.1 million shares of common stock, were not considered in computing diluted earnings per common share because they were antidilutive. For the quarter ended September 30, 2014, there were minimal stock options that were not considered in computing diluted earnings per common share.

For the nine months ended September 30, 2015 and 2014, stock options for 0.1 million shares of common stock, were not considered in computing diluted earnings per common share because they were antidilutive.