6. Earnings Per Share

Basic earnings per share (“EPS”) excludes dilution and is computed by dividing income available to common stockholders 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,
(In thousands, except per share data)	2018		2017
Basic EPS:
Weighted average common shares outstanding		43,714		43,595
Net income available to common stockholders	$	29,807	$	22,876
Basic EPS	$	0.68	$	0.52

Diluted EPS:
Weighted average common shares outstanding		43,714		43,595
Dilutive effect of common stock options and restricted stock		337		320
Weighted average common shares and common share equivalents		44,051		43,915
Net income available to common stockholders	$	29,807	$	22,876
Diluted EPS	$	0.68	$	0.52

	Nine months ended September 30,
(In thousands, except per share data)	2018		2017
Basic EPS:
Weighted average common shares outstanding		43,692		43,563
Net income available to common stockholders	$	83,914	$	64,514
Basic EPS	$	1.92	$	1.48

Diluted EPS:
Weighted average common shares outstanding		43,692		43,563
Dilutive effect of common stock options and restricted stock		317		329
Weighted average common shares and common share equivalents		44,009		43,892
Net income available to common stockholders	$	83,914	$	64,514
Diluted EPS	$	1.91	$	1.47

There were 1,500 and 3,250 stock options for the quarters ended September 30, 2018 and September 30, 2017, 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.

There were 1,500 and 3,014 stock options for the nine months ended September 30, 2018 and September 30, 2017, 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.