Earnings Per Share

For the quarters and nine months ended September 30, 2017 and 2016, 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	2017	2016	2017	2016
Basic average common shares outstanding	17,055	16,888	17,028	16,859
Effect of dilutive options and restricted stock awards	212	250	242	225
Diluted average common shares outstanding	17,267	17,138	17,270	17,084

For each of the quarters ended September 30, 2017 and 2016, stock options for 38,280 shares and 91,900 shares of Common Stock were not considered in computing diluted earnings per common share because they were antidilutive.

For the nine months ended September 30, 2017 and 2016, stock options for 38,280 shares and 96,455 shares of common stock, respectively, were not considered in computing diluted earnings per share because they were antidilutive.