EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2016

EARNINGS PER SHARE

Schedule of computation of basic and diluted earnings (loss) per share

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2016		2015		2016		2015
	(in thousands, except share and per share data)
Basic
Numerator:
Net income	$	12,940	$	19,154	$	17,068	$	39,866
Effect of unvested restricted stock awards		(89)		(175)		(132)		(418)
Adjusted net income	$	12,851	$	18,979	$	16,936	$	39,448
Denominator:
Weighted-average shares		25,724,550		26,009,344		25,779,166		26,033,467
Earnings per common share	$	0.50	$	0.73	$	0.66	$	1.52
Diluted
Numerator:
Net income	$	12,940	$	19,154	$	17,068	$	39,866
Effect of unvested restricted stock awards		(87)		(172)		(131)		(410)
Adjusted net income	$	12,853	$	18,982	$	16,937	$	39,456
Denominator:
Weighted-average shares		25,724,550		26,009,344		25,779,166		26,033,467
Effect of dilutive securities		486,974		499,138		484,566		536,333
Adjusted weighted-average shares and assumed conversions		26,211,524		26,508,482		26,263,732		26,569,800
Earnings per common share	$	0.49	$	0.72	$	0.64	$	1.48