CALCULATION OF EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2016

CALCULATION OF EARNINGS PER COMMON SHARE

The following tables show the calculation of earnings per common share (in thousands, except per share data):



	Years Ended December 31
	2016		2015		2014
Net income	$	85,385	$	45,222	$	54,070
Weighted average number of common shares outstanding
Basic	33,820,148		23,801,373		19,359,409
Diluted	33,853,511		23,866,621		19,402,656
Earnings per common share
Basic	$	2.52	$	1.90	$	2.79
Diluted	$	2.52	$	1.89	$	2.79

At December 31, 2016, 2015 and 2014 there were 290,719, 231,562, and 195,106, respectively, issued but unvested restricted stock shares and units that were included in the computation of diluted earnings per share.

At December 31, 2016 and 2015 there were options to purchase an additional 5,000 shares of common stock and at December 31, 2014 there were options to purchase an additional 10,664 shares of common stock that were not included in the computation of diluted earnings per share because their exercise price resulted in them being anti-dilutive. At December 31, 2016, 2015 and 2014 there was a warrant to purchase up to 243,998 shares of common stock and they were not included in the computation of diluted earnings per share because their exercise price resulted in them being anti-dilutive.