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Earnings per share ("EPS") (Tables)
12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Reconciliation of Basic EPS and Diluted EPS

The following table is a reconciliation of basic EPS and diluted EPS:

 

Year Ended December 31,

   2016      2015      2014  
(in thousands except share and per share data)                     

BASIC EPS COMPUTATION

        

Numerator:

        

Net income, Class A

   $ 19,270      $ 18,081      $ 17,157  

Net income, Class B

     5,264        4,940        4,703  

Denominator:

        

Weighted average shares outstanding, Class A

     3,600,729        3,600,729        3,591,732  

Weighted average shares outstanding, Class B

     1,967,180        1,967,180        1,969,030  

Basic EPS, Class A

   $ 5.35      $ 5.02      $ 4.78  

Basic EPS, Class B

   $ 2.68      $ 2.51      $ 2.39  
  

 

 

    

 

 

    

 

 

 

DILUTED EPS COMPUTATION

        

Numerator:

        

Net income, Class A

   $ 19,270      $ 18,081      $ 17,157  

Net income, Class B

     5,264        4,940        4,703  
  

 

 

    

 

 

    

 

 

 

Total net income, for diluted EPS, Class A computation

     24,534        23,021        21,860  

Denominator:

        

Weighted average shares outstanding, basic, Class A

     3,600,729        3,600,729        3,591,732  

Weighted average shares outstanding, Class B

     1,967,180        1,967,180        1,969,030  

Dilutive effect of Class A stock options

                   1,447  
  

 

 

    

 

 

    

 

 

 

Weighted average shares outstanding diluted, Class A

     5,567,909        5,567,909        5,562,209  

Weighted average shares outstanding, Class B

     1,967,180        1,967,180        1,969,030  

Diluted EPS, Class A

   $ 4.41      $ 4.13      $ 3.93  

Diluted EPS, Class B

   $ 2.68      $ 2.51      $ 2.39