Income Per Common Share

12 Months Ended

Dec. 31, 2013

Income Per Common Share [Abstract]

Income Per Common Share

16.  Income Per Common Share

The following table sets forth the computation of basic and diluted income per common share (in thousands, except per share data):

	2013		2012		2011
Basic income per common share
Net income	$	16,172	$	7,946	$	7,371
Net income allocated to participating securities		(367)		(180)		(149)
Net income allocated to common shareholders	$	15,805	$	7,766	$	7,222
Basic weighted-average common shares outstanding		26,885		26,967		27,441
Basic income per common share	$	0.59	$	0.29	$	0.26
Diluted income per common share
Net income	$	16,172	$	7,946	$	7,371
Net income allocated to participating securities		(359)		(178)		(147)
Net income allocated to common shareholders	$	15,813	$	7,768	$	7,224
Basic weighted-average common shares outstanding		26,885		26,967		27,441
Effect of dilutive options and awardsa		813		444		318
Diluted weighted-average common shares outstanding		27,698		27,411		27,759
Diluted income per common share	$	0.57	$	0.28	$	0.26

aThe Company excluded stock options from the calculation of diluted weighted-average common shares outstanding if the per share value, including the sum of (i) the exercise price of the options and (ii) the amount of the compensation cost attributed to future services and not yet recognized, was greater than the average market price of the shares, because the inclusion of these stock options would be antidilutive to income per common share.  Accordingly, stock options to purchase 656,000,  1.7 million, and 2.0 million, shares for the years ended December 31, 2013,  2012, and 2011, respectively, were excluded from the calculation of diluted weighted-average common shares outstanding.