Income per share

9 Months Ended

Sep. 30, 2013

Income per share

(3)           Income per share

The following is the computation for basic and diluted income per share:

	Three Months Ended September 30,				Nine months Ended September 30,
	2013		2012		2013		2012
	(in thousands, except per share amounts)
Net income	$	7,673	$	7,259	$	20,813	$	18,735
Weighted average basic shares outstanding		2,007		2,014		2,014		2,015
Add:  Effect of dilutive securities		9		8		5		13
Weighted average diluted shares outstanding		2,016		2,022		2,019		2,028

Earnings per share:
Basic	$	3.82	$	3.60	$	10.33	$	9.30
Diluted	$	3.81	$	3.59	$	10.31	$	9.24

Incremental shares from stock options and restricted stock units were included in the calculation of weighted average diluted shares outstanding using the treasury stock method. Dilutive securities representing 1,545 and 5,901 shares of common stock for the quarters ended September 30, 2013 and 2012, respectively, were excluded from the computation of weighted average diluted shares outstanding because their effect would have been anti-dilutive.