Earnings Per Share

12 Months Ended

Dec. 31, 2017

Basic net income per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted net income per share assumes the conversion of all potentially dilutive securities and is calculated by dividing net income by the sum of the weighted average number of shares of common stock outstanding plus all potentially dilutive securities. Dilutive common shares consist primarily of stock options and restricted stock awards.

The following table sets forth the computation of basic and diluted earnings per share:



	2017		2016		2015
Numerator:	(in thousands, except share and per share data)
Net income	$	54,498	$	53,376	$	45,728
Denominator:
Basic weighted average shares	52,572,496		52,924,398		54,045,841
Effect of dilutive stock options and restricted stock	506,238		525,356		435,643
Diluted weighted average shares	53,078,734		53,449,754		54,481,484
Earnings per share:
Basic	$	1.04	$	1.01	$	0.85
Dilutive	$	1.03	$	1.00	$	0.84
Anti-dilutive shares:
Shares	785,825		469,603		146,548