(

) Earnings per Common Share

Basic and diluted earnings per common share were computed as follows:

	Three Months				Six Months
	Ended June 30,				Ended June 30,
(In thousands, except per share amounts)	2017		2016		2017		2016
Numerator:
Net income	$	9,141	$	8,531	$	17,355	$	16,724
Denominator:
Basic earnings per common share - weighted-average shares		54,493		54,069		54,459		54,079
Effect of dilutive stock options		309		320		313		312
Diluted earnings per common share - weighted-average shares and assumed conversions		54,802		54,389		54,772		54,391

Basic earnings per common share	$	0.17	$	0.16	$	0.32	$	0.31
Diluted earnings per common share	$	0.17	$	0.16	$	0.32	$	0.31

Options totaling

373,667

and

380,000

equivalent shares for the

three

-month and

six

-month periods ended

June 30, 2017,

and

535,333

and

562,333

equivalent shares for the

three

-month and

six

-month periods ended

June 30, 2016,

respectively, were outstanding but were

not

included in the calculation of diluted earnings per share because including the options in the denominator would be antidilutive, or decrease the number of weighted-average shares, due to their exercise prices exceeding the average market price of the common shares, or because inclusion of average unrecognized compensation expense in the calculation would cause the options to be antidilutive.

Unvested performance unit awards totaling

132,305

equivalent shares for each of the

three

-month and

six

-month periods ended

June 30, 2017,

and

97,278

equivalent shares for each of the

three

-month and

six

-month periods ended

June 30, 2016,

were considered outstanding but were

not

included in the calculation of diluted earnings per share because inclusion of average unrecognized compensation expense in the calculation would cause the performance units to be antidilutive.