Net Income Per Share

9 Months Ended

Sep. 30, 2017

NET INCOME PER SHARE

Basic net income per share has been computed by dividing net income by the basic number of weighted average shares outstanding. Diluted net income per share has been computed by dividing net income by the diluted number of weighted average shares outstanding using the treasury stock method. The share effect is as follows:



	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2017	2016	2017	2016
Weighted average shares outstanding:
Common shares	19,150,749	20,159,197	19,277,014	20,116,250
Vested restricted stock units	256,595	220,360	251,161	281,787
Basic number of weighted average shares outstanding	19,407,344	20,379,557	19,528,175	20,398,037
Dilutive effect of restricted stock and restricted stock units	8,201	5,067	19,499	17,944
Dilutive number of weighted average shares outstanding	19,415,545	20,384,624	19,547,674	20,415,981

For the three months ended September 30, 2017 and September 30, 2016, there were no shares of restricted stock or restricted stock units that would have been anti-dilutive. For the nine months ended September 30, 2017 and September 30, 2016, there were 250 and 7,368 shares of restricted stock, respectively, that were not included in the computation of diluted net income per share because their inclusion would have been anti-dilutive.