6.	Earnings Per Share

Basic earnings per share (“EPS”) excludes dilution and is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity (such as the Company’s dilutive stock options and restricted stock units).

The following is a reconciliation of basic and diluted EPS for the periods presented in the unaudited interim consolidated statements of income:

Three months ended September 30,	2017		2016
(In thousands, except per share data)
Basic EPS:
Weighted average common shares outstanding		43,595		43,200
Net income available to common stockholders	$	22,876	$	20,001
Basic EPS	$	0.52	$	0.46

Diluted EPS:
Weighted average common shares outstanding		43,595		43,200
Dilutive effect of common stock options and restricted stock		320		362
Weighted average common shares and common share equivalents		43,915		43,562
Net income available to common stockholders	$	22,876	$	20,001
Diluted EPS	$	0.52	$	0.46

Nine months ended September 30,	2017		2016
(In thousands, except per share data)
Basic EPS:
Weighted average common shares outstanding		43,563		43,214
Net income available to common stockholders	$	64,514	$	58,801
Basic EPS	$	1.48	$	1.36

Diluted EPS:
Weighted average common shares outstanding		43,563		43,214
Dilutive effect of common stock options and restricted stock		329		366
Weighted average common shares and common share equivalents		43,892		43,580
Net income available to common stockholders	$	64,514	$	58,801
Diluted EPS	$	1.47	$	1.35

There were 3,250 stock options for the quarter ended September 30, 2017 and no stock options for the quarter ended September 30, 2016, that were not considered in the calculation of diluted EPS since the stock options’ exercise price was greater than the average market price during these periods.

There were 3,014 and 36,865 stock options for the nine months ended September 30, 2017 and September 30, 2016, respectively, that were not considered in the calculation of diluted EPS since the stock options’ exercise price was greater than the average market price during these periods.